Pakistanis angry over detentions in Times Sq. case Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They
AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e
BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German
Minister seeks closure of anti-Berlusconi websites Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who
By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an
Edition:
U.S.
Africa
Arabic
Argentina
Brazil
Canada
China
France
Germany
India
Italy
Japan
Latin America
Mexico
Russia
Spain
United Kingdom
Home
Business
Business Home
Economy
Technology
Media
Small Business
Green Business
Legal
Deals
Earnings
Summits
Business Video
Markets
Markets Home
U.S. Markets
European Markets
Asian Markets
Global Market Data
Indices
M&A
Stocks
Bonds
Currencies
Commodities
Futures
Funds
peHUB
World
World Home
U.S.
Brazil
China
Euro Zone
Japan
Mexico
Russia
Afghan Journal
Africa Journal
India Insight
Global News Journal
Pakistan: Now or Never?
World Video
Politics
Politics Home
Front Row Washington
Politics Video
Technology
Technology Home
MediaFile
Science
Tech Video
Opinion
Opinion Home
Chrystia Freeland
Felix Salmon
Jack Shafer
Breakingviews
David Rohde
Bernd Debusmann
Gregg Easterbrook
Nader Mousavizadeh
James Saft
David Cay Johnston
John Wasik
Christopher Whalen
Ian Bremmer
Mohamed El-Erian
Lawrence Summers
The Great Debate
Unstructured Finance
Newsmaker
Money
Money Home
Analyst Research
Global Investing
MuniLand
Reuters Money
Alerts
Watchlist
Portfolio
Stock Screener
Fund Screener
Personal Finance Video
Life & Culture
Health
Sports
Arts
Faithworld
Business Traveler
Left Field
Entertainment
Oddly Enough
Lifestyle Video
Pictures
Pictures Home
Reuters Photographers
Full Focus
Video
Article
Comments (0)
Follow Reuters
Facebook
Twitter
RSS
YouTube
Read
Soros: not a funder of Wall Street protests
13 Oct 2011
Apple Can't Keep Up With Demand for iPhone Updates
13 Oct 2011
Problems plague Apple iCloud, iOS launch
13 Oct 2011
Soros: not a funder of Wall Street protests
13 Oct 2011
Senate Republican jobs bill urges tax reform and cuts
13 Oct 2011
Discussed
294
Who’s behind the Wall St. protests?
171
California governor signs controversial ”Dream Act”
145
Alabama immigration law decried, applauded as some flee state
Watched
Japanese airline, ANA, apologises for plane flip
Fri, Sep 30 2011
Rihanna's "inappropriate" outfit halts music video
Tue, Sep 27 2011
China : what is a "hard landing"?
Sun, Oct 9 2011
SEC asks companies to disclose cyber attacks
Tweet
Share this
Email
Print
Related News
SEC tells companies to disclose cyber attacks
Thu, Oct 13 2011
UPDATE 3-IBM buys Q1 Labs to expand in security software
Tue, Oct 4 2011
Exclusive: Justice Department probing Chinese accounting
Thu, Sep 29 2011
Ex-Goldman employee charged with insider trading
Wed, Sep 21 2011
UPDATE 5-Japan cyber attack silence may breach arms contracts
Tue, Sep 20 2011
Analysis & Opinion
U.S. credit market remains uneasy in the world of representations and warranties
Care and feeding of your computer hacker
Related Topics
Technology »
Media »
Cyber Crime »
Regulatory News »
By Jim Finkle and Sarah N. Lynch
BOSTON/WASHINGTON |
Thu Oct 13, 2011 9:13pm EDT
BOSTON/WASHINGTON (Reuters) - U.S. securities regulators formally asked public companies for the first time to disclose cyber attacks against them, following a rash of high-profile Internet crimes.
The Securities and Exchange Commission issued guidelines on Thursday that laid out the kind of information companies should disclose, such as cyber events that could lead to financial losses.
Senator John Rockefeller had asked the SEC to issue guidelines amid concern that it was becoming hard for investors to assess security risks if companies failed to mention data breaches in their public filings.
"Intellectual property worth billions of dollars has been stolen by cyber criminals, and investors have been kept completely in the dark. This guidance changes everything," Rockefeller said in a statement.
"It will allow the market to evaluate companies in part based on their ability to keep their networks secure. We want an informed market and informed consumers, and this is how we do it," Rockefeller said in a statement.
There is a growing sense of urgency about cyber security following breaches at Google Inc, Lockheed Martin Corp, the Pentagon's No. 1 supplier, Citigroup, the International Monetary Fund and others.
Tom Kellermann, chief technology officer of security firm AirPatrol Corp, said that the SEC guidance tells companies to report cyber attacks and disclose steps to remediate problems.
"They must also incorporate cyber events into their material risk reports," said Kellermann, who has advised U.S. President Obama on cyber policy.
The SEC gets into specifics, telling companies what type of data they might need to provide investors.
"Examples of estimates that may be affected by cyber incidents include estimates of warranty liability, allowances for product returns, capitalized software costs, inventory, litigation, and deferred revenue," it says.
(The document can be accessed on the SEC's website: www.sec.gov/divisions/corpfin/guidance/cfguidance-topic2.htm )
A report out earlier this month found that U.S. banks are losing ground in the battle to combat credit and debit card fraud because they balk at the expense of higher security. Globally, however, security is improving in the payment industry, according to data from The Nilson Report, a California trade publication.
There is some hope of U.S. legislation to address the problem, although the House of Representatives appears more interested in tackling it piecemeal while the Senate is opting for a more far-reaching approach.
Most of the concern has been focused on critical facilities like nuclear power, electricity, chemical and water treatment plants.
(Reporting by Sarah N. Lynch in Washington and Jim Finkle in Boston; Editing by Gary Hill, Bob Burgdorfer and Carol Bishopric)
Technology
Media
Cyber Crime
Regulatory News
Related Quotes and News
Company
Price
Related News
Tweet this
Link this
Share this
Digg this
Email
Reprints
We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/
Comments (0)
Be the first to comment on reuters.com.
Add yours using the box above.
Social Stream (What's this?)
Edition:
U.S.
Africa
Arabic
Argentina
Brazil
Canada
China
France
Germany
India
Italy
Japan
Latin America
Mexico
Russia
Spain
United Kingdom
Back to top
Reuters.com
Business
Markets
World
Politics
Technology
Opinion
Money
Pictures
Videos
Site Index
Legal
Bankruptcy Law
California Legal
New York Legal
Securities Law
Support & Contact
Contact Us
Advertise With Us
Connect with Reuters
Twitter
Facebook
LinkedIn
RSS
Podcast
Newsletters
Mobile
About
Privacy Policy
Terms of Use
Our Flagship financial information platform incorporating Reuters Insider
An ultra-low latency infrastructure for electronic trading and data distribution
A connected approach to governance, risk and compliance
Our next generation legal research platform
Our global tax workstation
Thomsonreuters.com
About Thomson Reuters
Investor Relations
Careers
Contact Us
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.