ARTICLE
3 March 2016

SEC Could Bring Charges Against Companies Withholding Data Breach Information

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Herbert Smith Freehills Kramer LLP

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A senior SEC enforcement official said companies withholding information about data breaches could face civil and criminal enforcement actions.
United States Corporate/Commercial Law

A senior SEC enforcement official said companies withholding information about data breaches could face civil and criminal enforcement actions. The SEC is looking to crack down on companies that don't disclose a breach when they become aware it has occurred. Speaking as part of a Practicing Law Institute panel, Stephanie Avakian, deputy director for the SEC's enforcement division, said that while the agency would weigh the challenges created by the variety of variables associated with a data breach, the enforcement division will take action where it judges companies violated their duties.
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