Menu

  • Alerts
  • Incidents
  • News
  • APTs
  • Cyber Decoded
  • Cyber Hygiene
  • Cyber Review
  • Cyber Tips
  • Definitions
  • Malware
  • Threat Actors
  • Tutorials

Useful Tools

  • Password generator
  • Report an incident
  • Report to authorities
No Result
View All Result
CTF Hack Havoc
CyberMaterial
  • Education
    • Cyber Decoded
    • Definitions
  • Information
    • Alerts
    • Incidents
    • News
  • Insights
    • Cyber Hygiene
    • Cyber Review
    • Tips
    • Tutorials
  • Support
    • Contact Us
    • Report an incident
  • About
    • About Us
    • Advertise with us
Get Help
Hall of Hacks
  • Education
    • Cyber Decoded
    • Definitions
  • Information
    • Alerts
    • Incidents
    • News
  • Insights
    • Cyber Hygiene
    • Cyber Review
    • Tips
    • Tutorials
  • Support
    • Contact Us
    • Report an incident
  • About
    • About Us
    • Advertise with us
Get Help
No Result
View All Result
Hall of Hacks
CyberMaterial
No Result
View All Result
Home News

US SEC Mandates Data Breach Incident Plans

May 17, 2024
Reading Time: 3 mins read
in News
US SEC Mandates Data Breach Incident Plans

The Securities and Exchange Commission (SEC) announced new regulations on Thursday, requiring specific financial institutions to establish comprehensive plans for managing data breaches involving customer information. These regulations, amendments to previous rules from 2000, apply to broker-dealers, investment companies, funding portals, registered investment advisers, and transfer agents. The institutions must develop, implement, and maintain written policies and procedures for detecting and addressing data breaches, as well as notifying affected customers promptly.

SEC Chair Gary Gensler emphasized the necessity of these amendments, citing the significant transformation in the nature, scale, and impact of data breaches over the past two decades. Covered firms are now obligated to provide prompt notice to victims, within 30 days of becoming aware of an incident involving the leak of customer information. This notice must contain detailed information about the breach, the compromised data, and guidance on protective measures for affected individuals.

While the amendments will take effect two months after publication in the Federal Register, larger companies will have 18 months to comply, while smaller entities will have two years. This announcement coincides with the implementation of new incident reporting regulations from the SEC, which require public companies to report “material” incidents. Despite efforts by Rep. Andrew Garbarino to rescind the SEC incident reporting rule, the White House has pledged to veto any legislative attempts to do so, emphasizing the importance of cybersecurity measures in protecting consumer data.

Cybersecurity experts praised the SEC’s initiative, noting that it signals a necessary step toward protecting consumer data and enhancing cybersecurity measures. The emphasis on timely notification enables consumers to take proactive steps to safeguard their financial and personal information, contributing to overall consumer protection. This latest announcement underscores the SEC’s commitment to modernizing policies and requirements to address cybersecurity threats effectively and protect consumer information in today’s digital landscape.

Reference:
  • US Securities and Exchange Commission Mandates Financial Firm Breach Plans
Tags: broker-dealersCyber NewsCyber News 2024Cyber threatsCybersecurityFinancialfunding portalsMay 2024Thursday
ADVERTISEMENT

Related Posts

Proton Launches Encrypted AI Assistant

Jetflicks Operator Sentenced to 7 Years

July 25, 2025
Proton Launches Encrypted AI Assistant

Proton Launches Encrypted AI Assistant

July 25, 2025
Proton Launches Encrypted AI Assistant

Brave Blocks Windows Recall Screenshot

July 25, 2025
Interlock Ransomware Threat Alert

Altman Flags Looming AI Fraud Crisis

July 24, 2025
Interlock Ransomware Threat Alert

XSS Forum Admin Arrested in Kyiv

July 24, 2025
Interlock Ransomware Threat Alert

Google OSS Rebuild Exposes Malicious Code

July 24, 2025

Latest Alerts

CastleLoader Uses Clickfix on Windows

Sophos, SonicWall Patch Critical RCE Bugs

Koske Malware Hides in Panda Images

Interlock Ransomware Threat Alert

GitLab Patches Key Vulnerabilities

Backdoor Found in WP Plugins

Subscribe to our newsletter

    Latest Incidents

    Hackers Target Amazon’s AI Code Bot

    APTs Use Fake Dalai Lama Apps to Spy

    Infostealer Hidden in Steam Game

    Data Breach Affects 340K Jobseekers

    Hackers Use Ransomware on SharePoint Servers

    Beluga Vodka Ransomware Attack Reported

    CyberMaterial Logo
    • About Us
    • Contact Us
    • Jobs
    • Legal and Privacy Policy
    • Site Map

    © 2025 | CyberMaterial | All rights reserved

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In

    Add New Playlist

    No Result
    View All Result
    • Alerts
    • Incidents
    • News
    • Cyber Decoded
    • Cyber Hygiene
    • Cyber Review
    • Definitions
    • Malware
    • Cyber Tips
    • Tutorials
    • Advanced Persistent Threats
    • Threat Actors
    • Report an incident
    • Password Generator
    • About Us
    • Contact Us
    • Advertise with us

    Copyright © 2025 CyberMaterial