Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to "Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure".

Bill 118 hjres 100 is a piece of legislation that aims to disapprove of a rule submitted by the Securities and Exchange Commission (SEC) regarding cybersecurity risk management, strategy, governance, and incident disclosure. The bill falls under chapter 8 of title 5 of the United States Code, which allows Congress to review and potentially overturn regulations proposed by federal agencies.

The rule in question, proposed by the SEC, focuses on enhancing cybersecurity measures within the financial industry. It outlines requirements for companies to develop and implement strategies for managing cybersecurity risks, as well as protocols for disclosing cybersecurity incidents to the public and investors.

Supporters of Bill 118 hjres 100 argue that the SEC's rule imposes unnecessary burdens on businesses and could stifle innovation within the financial sector. They believe that the rule is overly prescriptive and could lead to compliance costs that outweigh the benefits of improved cybersecurity. Opponents of the bill, however, argue that strong cybersecurity measures are essential for protecting sensitive financial information and preventing cyber attacks. They believe that the SEC's rule provides much-needed guidance for companies in managing cybersecurity risks and ensuring transparency in the event of a breach. Overall, the debate surrounding Bill 118 hjres 100 highlights the ongoing tension between regulatory oversight and industry innovation in the realm of cybersecurity. As Congress considers whether to disapprove of the SEC's rule, the implications for cybersecurity practices within the financial industry remain uncertain.