Financial institutions have 30 days to disclose breaches under new rules
REGULATION S-P —
Amendments contain loopholes that may blunt their effectiveness.
The Securities and Exchange Commission (SEC) will require some financial institutions to disclose security breaches within 30 days of learning about them.
On Wednesday, the SEC adopted changes to Regulation S-P, which governs the treatment of the personal information of consumers. Under the amendments, institutions must notify individuals whose personal information was compromised “as soon as practicable, but no...
Read more at arstechnica.com