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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Kyle Brasseur2023-12-11T19:29:00
Businesses seeking additional time before disclosing to the Securities and Exchange Commission (SEC) the occurrence of a material cybersecurity incident must be prepared to provide detailed information on the matter to the Federal Bureau of Investigation (FBI).
The FBI released guidance for requesting a delay to the new SEC rule’s requirement that the nature, scope, timing, and impact of cybersecurity incidents be reported within four business days on discovery of materiality. The rule, adopted in July, is set to take effect this month.
Disclosure delays may be granted in cases where the U.S. attorney general determines there are national safety risks, the SEC noted. The FBI’s guidance helps establish the process for earning such a determination.
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News and analysis for the well-informed compliance or audit exec.
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2023-12-13T18:04:00Z By Kyle Brasseur
Companies won’t have an easy path toward earning additional time from the Department of Justice regarding the disclosure of a material cybersecurity incident to the Securities and Exchange Commission as required under a new rule.
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