federalnewsnetwork.com
Open in
urlscan Pro
151.101.2.217
Public Scan
URL:
https://federalnewsnetwork.com/cybersecurity/2023/07/new-sec-rule-requires-public-companies-to-disclose-cybersecurity-breaches-...
Submission: On August 08 via manual from SG — Scanned from SG
Submission: On August 08 via manual from SG — Scanned from SG
Form analysis
4 forms found in the DOMGET https://federalnewsnetwork.com/search/
<form id="header-search-form" role="search" method="get" class="search-form search-form--header" action="https://federalnewsnetwork.com/search/" tabindex="-1">
<label class="search-form__label">
<span class="search-form__label-text">Search</span>
<input type="text" class="search-form__field" id="search-form__field" placeholder="Search …" value="" name="s" autocomplete="off">
</label>
<button id="searchsubmit" class="search-form__submit" type="submit" value="Search" aria-label="Submit search"><span>Submit </span>Search</button>
</form>
<form id="email-signup-mobile" class="email-signup-mobile" tabindex="-1">
<input class="email-signup__email" type="email" placeholder="Newsletter">
<button class="email-signup__submit" type="submit" aria-disabled="true">Submit</button>
</form>
GET https://federalnewsnetwork.com/search/
<form id="header-mobile-search-form" role="search" method="get" class="header-mobile-search-form" action="https://federalnewsnetwork.com/search/" tabindex="-1">
<label class="search-form__label">
<span class="search-form__label-text">Search</span>
<input type="text" class="search-form__field" id="search-form__field" placeholder="Search …" value="" name="s" autocomplete="off">
</label>
<button id="searchsubmit" class="search-form__submit" aria-disabled="true" type="submit" value="Search" aria-label="Submit search"><span>Submit </span>Search</button>
</form>
Name: emailsignupform — POST https://federalnewsnetwork.com/sailthru-newsletters-signup/
<form action="https://federalnewsnetwork.com/sailthru-newsletters-signup/" name="emailsignupform" id="sailthru-form-content" class="form form--red form--red visible" method="post">
<div class="form__row" id="form-inputs">
<legend class="form__title">Sign up for breaking news.</legend>
<input class="form__input" type="email" name="email" aria-label="Email Address" placeholder="Email Address" required="">
<input class="form__submit form__submit--white" type="submit" name="sbutton" aria-label="Sign up button" value="Signup">
</div>
<!-- button class="disclaimer"></button -->
</form>
Text Content
* Technology * Artificial Intelligence * Ask the CIO * Big Data * CIO News * Cloud Computing * Cybersecurity * IT Modernization * Open Data/Transparency * Reporter’s Notebook * Defense * On DoD * Army * Navy * Air Force * Space Operations * Defense Industry * Workforce/Management * Acquisition * Agency Oversight * Budget * Facilities/Construction * Hiring/Retention * Management * Unions * Workforce Rights/Governance * Pay & Benefits * Benefits * Fed Life * Open Season * Pay * Retirement * TSP * Commentary * Federal Report * Tom Temin * Audio * A Deeper Look with Joe Paiva * Accelerating Government * All About Data * Amtower Off-Center * Ask the CIO * The Business of Government Hour * Every Side of Cyber * Federal Drive * Federal Executive Forum * Fed Life * Federal Newscast * FEDtalk * For Your Benefit * GovNavigators * Innovation in Government * Inside the IC * Leaders & Legends * Modern Government * Off the Shelf * On DoD * Platform for the Mission * Search for Accountability * Security Clearance Insecurity * The Space Hour * Your Turn * More Audio Shows * Resources * Events & Webinars * FNN Knowledge Hub * Federal Insights * Ad & Sponsorship Opportunities Menu Search Search Submit Search On Air: Off The Shelf with Roger Waldron Trending: * GPO embraces 100% telework * Tracking back-to-office policies * Congress and future work at DHS Email Alerts Listen Live * Listen * Schedule * Sports Schedule Listen Live Schedule * Technology * Artificial Intelligence * Ask the CIO * Big Data * CIO News * Cloud Computing * Cybersecurity * IT Modernization * Open Data/Transparency * Reporter’s Notebook * Defense * On DoD * Army * Navy * Air Force * Space Operations * Defense Industry * Workforce/Management * Acquisition * Agency Oversight * Budget * Facilities/Construction * Hiring/Retention * Management * Unions * Workforce Rights/Governance * Pay & Benefits * Benefits * Fed Life * Open Season * Pay * Retirement * TSP * Commentary * Federal Report * Tom Temin * Audio * A Deeper Look with Joe Paiva * Accelerating Government * All About Data * Amtower Off-Center * Ask the CIO * The Business of Government Hour * Every Side of Cyber * Federal Drive * Federal Executive Forum * Fed Life * Federal Newscast * FEDtalk * For Your Benefit * GovNavigators * Innovation in Government * Inside the IC * Leaders & Legends * Modern Government * Off the Shelf * On DoD * Platform for the Mission * Search for Accountability * Security Clearance Insecurity * The Space Hour * Your Turn * More Audio Shows * Resources * Events & Webinars * FNN Knowledge Hub * Federal Insights * Ad & Sponsorship Opportunities Submit Search Submit Search Hubbard Radio Washington DC, LLC. All rights reserved. This website is not intended for users located within the European Economic Area. Cybersecurity NEW SEC RULE REQUIRES PUBLIC COMPANIES TO DISCLOSE CYBERSECURITY BREACHES IN 4 DAYS The Associated Press July 26, 2023 4:04 pm 3 min read WASHINGTON (AP) — 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. The new rules, passed by a 3-2 vote along party lines, also require publicly traded companies to annually disclose information on their cybersecurity risk management and executive expertise in the field.... READ MORE WASHINGTON (AP) — 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. The new rules, passed by a 3-2 vote along party lines, also require publicly traded companies to annually disclose information on their cybersecurity risk management and executive expertise in the field. The idea is to protect investors. Breach disclosures can be delayed if the U.S. Attorney General determines they would “pose a substantial risk to national security or public safety” and notifies the SEC in writing. Only under extraordinary circumstances could that delay be extended beyond 60 days. “Whether a company loses a factory in a fire — or millions of files in a cybersecurity incident — it may be material to investors,” SEC Chair Gary Gensler said in a statement, noting the current inconsistency in disclosures. Federal News Network's Workplace Reimagined: Are you ready for success in a hybrid world? Join us August 28 to hear federal and industry human capital and technology experts share advice, tactics and success stories about thriving in a hybrid world. The rules will put “more transparency into an otherwise opaque but growing risk” and may spur improvements in cyber defenses — though potentially posing a bigger challenge for smaller companies with limited resources, Lesley Ritter, senior VP at Moody’s Investors Service, said in a statement. Technically, the clock doesn’t start ticking on the four-day window for reporting until companies have determined a breach is material. One of the dissenting Republican commissioners, Hester Peirce, complained that the new requirements overstep the SEC’s authority and “seem designed to better meet the needs of would-be hackers” – who could benefit from detailed info on how companies manage cyberrisk. As well, Peirce said in a statement, the temptation for the SEC to “micromanage” company operations will only grow. A leading figure in cybersecurity, Tenable CEO Amit Yoran, heartily welcomed the new rule. “For a long time, the largest and most powerful U.S. companies have treated cybersecurity as a nice-to-have, not a must have. Now, it’s abundantly clear that corporate leaders must elevate cybersecurity within their organizations,” he said in a statement. The rules were first proposed in March 2022, when the SEC determined that breaches of corporate networks posed an escalating risk as their digitization of operations and remote work increased — and the cost to investors from cybersecurity incidents rose. While some critical infrastructure operators and all health care providers must by law report breaches, no federal breach disclosure law exists. Read more: Cybersecurity In a new report published by IBM, researchers found organizations now pay an average of $4.5 million to deal with breaches — a 15% increase over the past three years. The Ponemon Institute researchers also found that impacted businesses typically pass the costs on to consumers, who may themselves also be victims with personal information stolen in a breach. The rule’s passage also comes amid slow-moving, often cryptic disclosures — some through SEC filings — from a major data breach affecting hundreds of organizations caused by the so-called supply chain hack by Russian cybercriminals of a widely used file transfer program, MOVEit. The breach has impacted multiple universities, major pensions funds, U.S. government agencies, more than 9 million motorists in Oregon and Louisiana and companies including the BBC, British Airways, Ernst & Young and PricewaterhouseCoopers. Many victims of the MOVEit breach were quick to point out that they were failed by a third-party application. The new SEC rule encompasses third-party apps and notes how companies have increasingly relied on outside cloud services for data management and storage. Copyright © 2023 The Associated Press. All rights reserved. This website is not intended for users located within the European Economic Area. * Go Apple's Website to download the APP * Go Google's Website to download the APP Sign up for breaking news. Related Topics Business News Government News Technology News THE LATEST IN GOVERNMENT EVENTS POWERED BY: 8|14 TechNet Augusta 8|14 National Veteran Small Business... 8|14 2023 Government Financial Management... View More Events Post Your Event TOP STORIES * SSA’s new customer experience shop eyeing more real-time public feedback Top Story * Federal judge challenges SBA’s standard for giving firms disadvantaged status CONTRACTING * White House tells agencies to ‘hit the ground running’ with return-to-office plans WORKFORCE * Three ways the proposed NDAA could change the way contractors do business CONTRACTING * FAA puts ‘hold’ on return-to-office plans after union pushback WORKFORCE Federal News Network About FNN * News Team * Careers * Contact Us Connect * Events * Press Releases * RSS Feeds Partnerships * Advertise * Partners & Events * Hubbard Radio * Insights Listen * Podcasts * Radio Shows * Sports * WTOP * Follow Federal News Network on Linkedin * Follow Federal News Network on Facebook * Follow Federal News Network on Twitter * Go Apple's Website to download the APP * Go Google's Website to download the APP * Terms of Use * Copyright/Usage Policy * DMCA Notice * Privacy Policy * Comment Policy * EEO Report * FCC Online Public Inspection File * FCC Applications Need help accessing the FCC Public File due to a disability? Please contact Susan Rushkowski at publicfiledc@hubbardradio.com or (202) 895-5027. Copyright 2023 Hubbard Radio Washington DC, LLC. All rights reserved. This website is not intended for users located within the European Economic Area. A Raptive Partner Site