Last year, the SEC mandated that public companies disclose material cybersecurity incidents. "These types of cybersecurity incidents have a real impact, potentially, on shareholder value," Kate Dedenbach, a privacy and cyber attorney at Fisher Phillips in Detroit, told Business Insider. "The SEC's goal is to provide investors with more robust and timely information about cybersecurity incidents so they can make more knowledgeable investment decisions." There's a timeframe for disclosuresThe SEC says that determining a cybersecurity incident's materiality should be done "without reasonable delay" but doesn't specify a timeframe. The SEC says companies can delay disclosure if a cybersecurity incident poses a substantial risk to national security or public safety.

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Persons: —, Hugh Thompson, Kate Dedenbach, Fisher Phillips, Thompson, LoanDepot, Lei Zhou, Zhou, Dedenbach, Steve Winterfeld, it's, Winterfeld, cyberattacks, Winterfield Organizations: SEC, Service, RSA Conference, US Securities and Exchange Commission, Microsoft, Forbes, University of, Akamai Technologies Locations: Detroit