From: JDSupra Business Advisor
Christopher Avery, Bryan Thompson | Davis Wright Tremaine LLP
Business leaders confess that concerns of adverse regulatory actions are impacting industry willingness to share cyberthreat information with authorities
They say that no good deed goes unpunished. And when it comes to cyber sharing, industry leaders are concerned that their only “reward” for helping the government identify and respond to cyberthreats may be a stiff rebuke from their regulators.
In a recent survey on cybersecurity by Mayer Brown, industry executives and corporate counsels polled revealed that concerns about regulators taking adverse enforcement actions against them has an impact on their willingness share cyberthreat information with authorities. Of those industry leaders that responded, 44 percent admitted that adverse regulatory actions have a moderate to significant impact on their desire to share cyber threat information with the government. Perhaps because of this fear, industry leaders also appear reluctant to develop strong cybersecurity ties with government agencies: 41 percent of responding leaders stated that their companies did not have a close relationship with one or more government entities that oversee cybersecurity issues, while 24 percent stated that they did not know whether their company had any such relationships.
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