Sen. Portman says SEC’s disclosure requirements would raise cyber risks; other senators back proposal

Senate Homeland Security ranking member Rob Portman (R-OH) is raising concerns over the level of public disclosure required in the SEC’s proposed cybersecurity rule for publicly traded companies, while a bipartisan group of national security-focused senators is urging the commission to press ahead with the proposal.

The comment period closed May 9 on a Securities and Exchange Commission proposal to require publicly traded companies to disclose cyber incidents and detail the roles of management and the board of directors...