Rep. Andrew Garbarino is pushing to dissolve the SEC rule that requires publicly traded companies to disclose cybersecurity incidents, favoring the Cybersecurity and Infrastructure Security Agency (CISA) to handle such disclosures.
Garbarino argues the SEC mandate makes firms share sensitive information, attracting unnecessary hacker attention, while the SEC sought to enhance transparency for investors regarding cyber incidents' impact on companies' finances.
Despite the White House's support for the SEC rule, Garbarino emphasizes the backlash from various industries against it, suggesting a need for the executive branch to reconsider its position.
#cybersecurity-regulations #sec-disclosure-rule #congressional-review-act #cyber-incident-disclosures #cisa
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