OVERNIGHT TECH: White House wades into cybersecurity debate

Friday: FCC's McDowell says merger reviews need an overhaul: Republican FCC Commissioner Robert McDowell will tell an Energy and Commerce subcommittee Friday that the commission needs to overhaul the way it reviews mergers like AT&T/T-Mobile. McDowell feels the commission shouldn't impose conditions beyond those designed to mitigate any consumer harm and said the reviews should stick to the set 180-day time limit.

Senate Democrats say firms should have to disclose cyber-attacks to investors: Senate Commerce Committee Chairman Jay RockefellerJohn (Jay) Davison RockefellerSenate GOP rejects Trump’s call to go big on gun legislation Overnight Tech: Trump nominates Dem to FCC | Facebook pulls suspected baseball gunman's pages | Uber board member resigns after sexist comment Trump nominates former FCC Dem for another term MORE (D-W.Va.) and several colleagues wrote to Securities and Exchange Commission Chairwoman Mary Schapiro on Wednesday arguing firms should be forced to disclose cyber-attacks that could affect earnings or give competitors' a leg-up in the marketplace.

The lawmakers ask the commission to issue guidance that clarifies firms must disclose any network breach that could jeopardize the firm's intellectual property or trade secrets in order to provide investors with full transparency. The letter comes three weeks after a hacker attack on Sony brought down two online gaming networks and imperiled the personal data of more than 100 million consumers worldwide.