On Thursday, the White House sent a detailed cybersecurity proposal to Congress which provides guidelines for securing the Nation’s cyberinfrastructure. The administration’s plan is intended to expedite the process of setting security standards by hopefully bridging differences between cybersecurity bills in Congress to speed a bill to the President’s desk by the end of the year. The proposal, which offers unprecedented advice on cybersecurity, covers a range of issues, including civil liberties, data breaches and hacking. The White House also laid out a framework for the government’s role in mitigating cyberhazards on private networks.

In related news, Senate Democrats sent a letter to the Securities and Exchange Commission urging the agency to issue guidelines forcing firms to disclose cyber-attacks that could affect earnings or give competitors a leg-up in the marketplace. "Our review of recent corporate disclosures suggest that material breach reporting, like information risk, is inconsistent and unreliable," the letter reads.