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SEC Urged to Give Stronger Guidance on Cyber Disclosure

A U.S. Senate leader asked the new Securities and Exchange Commission chairman to give more authoritative guidance to companies on disclosing cyber attacks, saying reporting so far is “insufficient.”

“While the staff guidance has had a positive impact on the information available to investors on these matters, the disclosures are generally still insufficient for investors to discern the true costs and benefits of companies’ cybersecurity practices,” Senate Commerce Committee Chairman Jay Rockefeller said in a letter today to agency Chairman Mary Jo White.