NEMA backs House bill to revoke SEC final rule on cyber incident disclosure reporting

The National Electrical Manufacturers Association is throwing its support behind a bill sponsored by Rep. Andrew Garbarino (R-NY) bill that would roll back the Securities and Exchange Commission’s upcoming requirements for publicly traded companies to report cyber incidents scheduled to go into effect on Dec. 18.

The SEC’s final rule presents a “philosophical approach” for incident reporting, NEMA’s Peter Ferrell told Inside Cybersecurity, by centering on “materiality,” which is “too subjective” and rushes the process in reporting cyber incidents that...