Securities and Exchange Commission issued groundbreaking guidance to clarify companies’ disclosure obligations about cybersecurity risks and events. The SEC is telling publicly traded companies that they have to disclose material cyber security incidents. Until now “disclosure” laws have aimed at protecting consumers by making their PII the important aspect of a digital incident. With the SEC guidance, we have a new audience for “Disclosure” — shareholders. Now the battle to define materiality will begin. The SEC guidance is critical because it allows market participants to weigh cybersecurity as an investment factor.”]
Source: https://taosecurity.blogspot.com/2011/11/sec-guidance-emphasizes-materiality-for.html