The White House has announced that President Biden would veto an attempt by Republican lawmakers to overturn the Securities and Exchange Commission’s (SEC) recently implemented cyber incident disclosure rules. The rules, which took effect on December 18, 2023, require public companies to disclose material breaches within four business days of determining their material impact. The aim is to provide investors with timely and consistent information on cybersecurity incidents. Critics argue that disclosing such information could be helpful to attackers, while Republican lawmakers contend that early disclosure with incomplete or inaccurate information could harm investors and is in conflict with existing reporting requirements.
Read more: https://www.securityweek.com/biden-to-veto-attempt-to-overturn-sec-cyber-incident-disclosure-rules/