Chairman of House cybersecurity panel wants to overturn SEC disclosure rules

The chairman of the House subcommittee on cybersecurity has proposed legislation that would overturn a controversial rule set to come into effect next month mandating that companies disclose cybersecurity incidents.

The legislation from Rep. Andrew Garbarino (R-NY) would block the Securities and Exchange Commission (SEC) from requiring companies that it regulates to quickly disclose “material” cybersecurity incidents and share the details of their cybersecurity risk management, strategy, and governance with the commission on an annual basis.

The SEC [approved new …

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