SEC cyber rule could trigger more attacks, experts warn
Mandatory disclosure of cyber risks and attacks could help hackers
A new rule requiring US asset managers to disclose more information about cyber attacks could be a boon for hackers, critics of the proposal warn.
Investment firms must report any “significant cyber-security incidents” to the US Securities and Exchange Commission (SEC) within 48 hours and “promptly” inform clients of any breaches under a rule proposed by the regulator on February 9.
Cyber-security experts say these disclosures may expose compromised firms to further attacks when they are most
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