SEC Approves New Cyber Reporting Regulations for Public Companies

“The Securities and Exchange Commission voted 3-2 to adopt new regulations that would require publicly traded companies to notify the government when their IT systems are hacked and periodically disclose details around their cybersecurity risk governance in public filings. The rules, first proposed in 2022, were adopted in a meeting Wednesday, and would compel businesses to notify the SEC and public within four days of determining that a cybersecurity incident will have a “material” impact on their business operations. They would require information on the nature, scope and timing of the incident, as well as the “likely” material impact on the registrant’s financial conditions and operations.”

https://www.scmagazine.com/news/sec-approves-new-cyber-reporting-regulations-for-public-companies