Senators propose disclosure for cyber attacks

Senators Want Cyberattacks To Be Disclosed [Mashable]

Five senators, including Commerce Committee Chairman Jay Rockefeller, are currently looking to have the Securities and Exchange Commission require a greater level of disclosure from companies regarding cyberattacks.

In particular, these five senators would like the SEC to establish a set of guidelines for properly reporting any attacks on networks or systems. These guidelines should also direct companies to provide specific details relating to what exactly has been compromised during the attack. 

All of this comes on the heels of the significant attack Sony experienced on its PlayStation Network, which compromised thousands of accounts of user data and credit card information. Sony's is the latest example, but other companies including Google, Intel, PayPal, and MasterCard all have recently suffered some form of cyberattack.

Another problem the SEC has with these attacks is that too often a company's investors are not informed enough regarding the implications of cyberattacks. As Sony has shown us, these cyberattacks can significantly impact a company's bottom line as it's reported Sony lost roughly $1.24 billion on the PlayStation Network breach and outage. 

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