2
U.S. rule requires public companies to disclose cybersecurity breaches in 4 days (www.ctvnews.ca)
submitted 3 years ago by [M, B] to c/technology@lemmy.world
5 comments fedilink hide all child comments
 

U.S. rule requires public companies to disclose cybersecurity breaches in 4 days::The Securities and Exchange Commission adopted rules Wednesday to require public companies to disclose within four days all cybersecurity breaches that could affect their bottom lines. Delays will be permitted if immediate disclosure poses serious national security or public safety risks.

all 5 comments

sorted by: hot top controversial new old
[–] 2 points 3 years ago

Public companies, really? They only managed to gather political will to impose that with securities in mind?

  • permalink
  • fedilink
  • source
    •
    [–] 1 point 3 years ago

    Technically, the clock doesn't start ticking on the four-day window for reporting until companies have determined a breach is material.

    It's not all breaches. In fact, because this is the SEC, it's about financial impact, not privacy or security.

    It's a good start, but I worry that a financial impact based approach creates the wrong incentive.

  • permalink
  • fedilink
  • source
    •
    [–] 0 points 3 years ago (1 child)

    4 days!? That's awfully fucking generous. I would have made the requirement at 24 hours because fuck corporations.

  • permalink
  • fedilink
  • source
  • hideshow 2 child comments
    •
  • [–] 1 point 3 years ago

    Eh I disagree. You have to give companies time to patch their shit. If they disclose hours or days before they have time to patch that can lead to another breach assuming the vulnerability is shared.

    But yes fuck Corporations.

  • permalink
  • fedilink
  • source
  • parent
    • [–] -1 points 3 years ago

    4 days earth time?

  • permalink
  • fedilink
  • source
    •