Stakeholders eye role of independent regulators on cyber incident reporting rules

Actions by independent regulators to set cyber incident reporting requirements are “distracting” and imposing undue burdens on the private sector, industry witnesses stressed at a recent House hearing, while sources continue to cite particular concerns over a pending SEC cyber rule.

“I hope that the executive branch will work very hard to impress upon the Securities and Exchange Commission any concerns that the agency is out of step with the consensus approach being pursued for incident reporting and voluntary cooperation,”...