Rockefeller asks SEC to step up cybersecurity disclosures

{mosads}In response to a request from Rockefeller in 2011, the SEC issued staff-level guidance on cybersecurity disclosures. But Rockefeller, the chairman of the Senate Commerce Committee, argued that the SEC should elevate the guidance to the commission-level.

“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,” Rockefeller wrote. 

He pointed to reports that hackers are targeting critical infrastructure systems, such as oil and gas companies, and stealing valuable intellectual property.

“This threat to our country’s economic and national security, and to companies’ bottom line, is real and it is growing,” Rockefeller wrote.

Rockefeller is one of the lead supporters of legislation that would set cybersecurity standards for critical infrastructure companies and would encourage companies and the government to share more information about cyberattacks. 

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