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Hacking, flash-crash drives SEC rule effort
by Ronald D. Orol
Excerpt:
Tom Kellermann, a vice president at security intelligence software company Core Security Technologies and a former computer security official at the World Bank, said he believes that companies like Nasdaq that are hacked would have to report breaches faster to the public and regulators if the SEC guidelines became rules.
“Many publicly traded companies do not report breaches,” Kellermann said. “This [SEC rule] needs to happen because you need to force exchanges and public traded companies to modernize risk management in general as it relates to two realities: All technologies are susceptible to hacking; all controls, if hacked, are undermined.”
Source: Market Watch
