Yearlong Breach Probe Puts SEC in Businesses' Shoes

Haima Marlier spoke to Law360 about the U.S. Securities and Exchange Commission’s (SEC) yearlong investigation that revealed an in-house data breach had a far deeper impact than previously believed, which could give the agency – which is finalizing closely watched new cyber incident reporting rules – insight into the challenges faced by cyberattack victims.

"Whether you are the SEC or a company that is the victim of a cyberattack, it's just not possible to conduct very fast investigations into cyber incidents and to come to a reliable and accurate conclusion about what happened,” Haima said.

She added: "The SEC's own timetable shows that this is true for them too. Just like it took the SEC some time to really get its arms around the scope of its incident, all victims of cyberattacks need that time to truly understand what is going on."

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