05.26.25

Banks Want SEC To Rescind Cyberattack Disclosure Requirements

by: Pymnts.com

A coalition of financial industry trade associations has called on the Securities and Exchange Commission (SEC) to roll back portions of its cybersecurity disclosure rule, arguing that current requirements force companies to make premature public statements that could harm investors and empower bad actors. The group requested that the SEC rescind its Form 8-K Item 1.05 rule, which requires public companies to disclose material cybersecurity incidents within four business days of determining their significance.

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