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Experts urge U.S. caution on additional cyber threat disclosures

27
Mar
2014

By Sarah N. Lynch WASHINGTON (Reuters) – Cyber experts urged U.S. securities regulators on Wednesday to tread carefully when requiring companies to disclose security breaches and cyber threats, saying giving too much information may leave them vulnerable to hackers or legal action. I dont think the commission should be going overboard, said Roberta Karmel, a professor at Brooklyn Law School, told a U.S. Securities and Exchange Commission (SEC) cyber security panel discussion. I am not sure the SEC is the agency that really should be pushing companies to do more by requiring more disclosure of breaches and other kinds of information that arent material. The SEC convened the cyber security event after a recent series of high-profile data breaches at companies like Target Corp and Neiman Marcus Group. The SEC has also come under considerable political pressure to take additional steps to require public companies to disclose more information about cyber threats to investors.

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