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SEC Cyber Reporting Rules Opposed by Leading U.S. Banks
SEC Cyber Reporting Rules Opposed by Leading U.S. Banks
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Major U.S. banking groups are pushing back against a Securities and Exchange Commission (SEC) rule requiring public disclosure of cyberattacks within four days. Critics argue the mandate creates unnecessary risks by exposing vulnerabilities prematurely.
The financial sector contends rapid disclosure could amplify threats rather than mitigate them. Institutions fear detailed reporting might provide malicious actors with a roadmap for further attacks.
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