U.S. Chamber Warns Cyberattack Disclosures Could Hurt Corporate Profits

Editor’s Note: The Chamber raises an important cyber security issue in discussing concerns about wasteful litigation. For more information, see CRE”s discussion paper, Creating a Cost-Effective Cyber Security Safe Harbor.

From: The Wall Street Journal

Chamber Tells SEC Mandatory Disclosures Could ‘Paint A Target’ on Companies’ Backs

By Andrew Ackerman

WASHINGTON—The U.S. Chamber of Commerce is trying to head off efforts to force publicly traded firms to share more information about cyberattacks, warning policy makers that such disclosures could unduly harm corporate profits.

In a letter to the Securities and Exchange Commission—which has been debating whether to ratchet up disclosure requirements—the Chamber said the agency could “paint a target” on the backs of companies if they are forced to reveal information about specific breaches.

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