SEC releases new disclosure guidelines for companies hit by cyber attacks

Friday - 10/14/2011, 12:58pm EDT

The Securities and Exchange Commission has released new guidance for how companies should disclose cyberattacks. The guidance comes after Sen. Jay Rockefeller asked the SEC to issue it, so companies would be compelled to reveal any cyberattacks that lead to losses, Reuters reports.

The Securities and Exchange Commission has released new guidance for how companies should disclose cyberattacks. The guidance comes after Sen. Jay Rockefeller asked the SEC to issue it, so companies would be compelled to reveal any cyberattacks that lead to losses, Reuters reports.

There is a growing sense of urgency about cyber security following breaches at Google, Lockheed Martin, Citigroup, the International Monetary Fund and others. The SEC guidance tells companies to report cyber attacks and disclose steps to remediate problems. amid concern that companies were failing to mention data breaches in public filings.

This story is part of Federal News Radio's daily Cybersecurity Update. For more cybersecurity news, click here.