US SEC Proposes 48-Hour Incident Reporting Requirement

The U.S. Securities and Exchange Commission on Wednesday voted 3-1 to advance new, mandatory cybersecurity rules for registered investment advisers, companies and funds. The rules – now open for at least a 30-day public comment period – would require related entities to adopt and implement written cybersecurity policies and would issue a 48-hour incident reporting mandate to the commission via a new confidential form.

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