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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