SEC proposes rule to require extensive cyber disclosure from all publicly traded companies

The Securities and Exchange Commission has voted to issue a proposal that would require publicly traded companies to disclose cyber incidents, as well as set new requirements for firms to regularly report on the roles of management and the board of directors on cybersecurity policy.

The commissioners voted 3-1 on Wednesday to move forward with the rulemaking process, kicking off a public comment period that “will remain open for 60 days following publication of the proposing release on the SEC's...