In a letter to Senate Commerce Committee Chairman Jay Rockefeller last month, new Securities and Exchange Commission Chairman Mary Jo White wrote that she had directed her staff to provide her with a briefing on current practices of the SEC for evaluating what, if any, disclosures public companies should make regarding cyberattacks and cybersecurity risks, including the overall level of compliance with the existing guidance issued in late 2011. The Federal Trade Commission and various state attorneys general have already marked their data breach territory by going after companies that have suffered breaches for failing adequately to protect data. But the prospect of the SEC’s flexing greater muscle in this area means that companies that suffer a breach may face even more regulatory scrutiny in the aftermath.
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New cyber sheriff may seek bigger gun
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