SEC Adopts Rules on Incident Disclosure by Public Companies

[https://www.sec.gov/news/press-release/2023-139](https://www.sec.gov/news/press-release/2023-139)

This is positive but only if it has teeth. Do you all know what is meant by "The new rules will require registrants to disclose on the new Item 1.05 of Form 8-K any cybersecurity incident they determine to be material and to describe the material aspects of the incident's nature, scope, and timing, as well as its material impact or reasonably likely material impact on the registrant."

What are the penalties if a company doesn't disclose above info? …

8-k cybersecurity cybersecurity incident impact incident material nature rules scope what is