BSA in the News

POLITICO Influence, May 11, 2022. BSA | The Software Alliance is also holding a fly-in today, drawing board members and executives of member companies like Cisco, IBM, Salesforce and Workday to meet with lawmakers including House Majority Leader Steny Hoyer, Minority Leader Kevin McCarthy, House Energy & Commerce Chair Frank Pallone (D-N.J.) and ranking member Cathy McMorris Rodgers (R-Wash.), Sens. Richard Blumenthal (D-Conn.), Marsha Blackburn (R-Tenn.) and Jacky Rosen (D-Nev.) National Security Council general counsel Jake Phillips and more. Read more

Wall Street Journal, May 11, 2022. Others warned that public reports could provide hackers information while attacks are in progress. “If a registrant discloses that it is currently the victim of a material cyber incident, that would tip off the malicious actor that the registrant is aware they’re in the victim company’s systems,” said Henry Young, policy director at industry lobbying group BSA, The Software Alliance, which represents commercial software makers. That may prompt hackers to steal data faster, or speed up timelines on attacks such as ransomware strikes once tipped off, he said. Read more

Politico Pro Morning Cyber, May 10, 2022. BSA | The Software Alliance, which represents software providers, took a different tone than the Chamber and ITI, and instead requested that the SEC alter its rules to strike a balance between what businesses are capable of doing and what investors would like to see. BSA also recommended that the SEC provide an exemption for companies to delay disclosing an incident in a publicly available 8-K form whenever “premature disclosure can be reasonably anticipated to cause substantial negative consequences” to law enforcement investigations. Read more

The Washington Post, May 10, 2022.The Washington Post reports that the Securities and Exchange Commission’s proposed rules, which are aimed at raising companies’ cybersecurity precautions and transparency, could force companies to prematurely report hacks publicly. BSA | The Software Alliance warned that “unintended impact on registrants, investors, law enforcement, and the health and safety of U.S. persons would outweigh any benefits.” Read more