Wall Street’s Watchdog Fails to Follow its Own Counsel on Disclosing Cyberattacks
In 2014, the chair of the Securities & Exchange Commission warned business leaders that "material information regarding cybersecurity risks and cyber incidents is required to be disclosed." The SEC requires exchanges such as the New York Stock Exchange to notify them within hours of discovering a breach, but last year, one of the SEC's most sensitive databases was hacked, and the agency didn't disclose this until a few days ago, burying the news in a larger policy statement.
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