SEC publishes draft cybersecurity disclosure taxonomy

Posted on July 7, 2024 by Editor

The US Securities and Exchange Commission (SEC) has announced the publication of the draft Cybersecurity Disclosure (CYD) taxonomy to support the final rule on Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure. This taxonomy, which includes elements necessary for tagging cybersecurity information using Inline XBRL, is designed to enhance the digital filing and transparency of cybersecurity disclosures.

The new rules require registrants to disclose material cybersecurity incidents in a timely manner and annually provide material information regarding their cybersecurity risk management, strategy, and governance. The draft CYD taxonomy aims to facilitate this reporting process.

Stakeholders are encouraged to review the draft taxonomy files available here and provide feedback by 23 August.

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