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>is that information worth the cost of producing it, or even valuable to anyone in any way? It's valuable to the SEC, because they're the ones tasked with enfo
by notatoad 2y ago
>is that information worth the cost of producing it, or even valuable to anyone in any way?
It's valuable to the SEC, because they're the ones tasked with enforcing these rules and specifics are what allow for enforcement. If you publish an actual percentage, then they can ding you for lying if the percentage was wrong. being vague isn't misleading on its own, but it can be used to be misleading.
if they actually know what was exfiltrated, then putting specifics in the disclosure should be a trivial matter. maybe not a percentage of lines in the codebase, but you've got to give the SEC enough that they could potentially check it and determine if it was a lie. and "a limited number" isn't specific enough to do that.
- SpicyLemonZest 2y agoI don't agree that the Securities and Exchange Commission is tasked with enforcing good cybersecurity disclosures. You'll note that this settlement formally has to do with the companies' statements to investors, although I agree with the implicit assumption a lot of people upthread are making, that the charges would not have been filed if customer disclosures were adequate.