In a first of its kind, the SEC recently fined Yahoo US$35 million for failing to assess and disclose a 2014 data breach that affected over 500 million user accounts. What caused the SEC to charge Yahoo with cybersecurity-related disclosure violations?  Our colleagues Tara Swaminatha and Coates Lear have prepared an analysis of this enforcement action, including the post-breach information relayed by Yahoo’s Security team to its executives. The analysis may be read here.