Bill 118 hjres 100, also known as the "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'", is a piece of legislation that aims to overturn a rule proposed by the Securities and Exchange Commission (SEC) regarding cybersecurity practices within companies.
The rule in question focuses on cybersecurity risk management, strategy, governance, and incident disclosure. It requires companies to disclose information about their cybersecurity practices and incidents to the SEC and the public. The goal of the rule is to increase transparency and accountability in how companies handle cybersecurity threats.
However, some members of Congress believe that the rule is overly burdensome and could potentially harm businesses by requiring them to disclose sensitive information that could be exploited by cybercriminals. As a result, Bill 118 hjres 100 seeks to disapprove of the SEC's rule and prevent it from being implemented.
The bill is currently being debated in Congress, with supporters arguing that it is necessary to protect businesses from unnecessary regulatory burdens, while opponents argue that it is important for companies to be transparent about their cybersecurity practices. The outcome of the bill remains uncertain, but it highlights the ongoing debate surrounding cybersecurity regulation in the United States.