Bank Policy Institute questions SEC process to consider national security in granting delays on four-day incident requirement

The Securities and Exchange Commission’s process to allow a delay for disclosing a cyber incident over national security reasons won’t work and could result in more problems for firms, according to the Bank Policy Institute.

“Cyber attacks are one of the top risks on investors’ and executives’ minds, but the way they are treated under a new SEC regulation would empower hackers and blunt companies’ defenses,” BPI’s Heather Hogsett writes in a Monday blog post.

The SEC approved a...