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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".

11/14/2024, 10:26 PM

Summary of Bill HJRES 100

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.

Congressional Summary of HJRES 100

This joint resolution nullifies the final rule issued by the Securities and Exchange Commission titled Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure and published on August 4, 2023. The rule requires standardized disclosures from public companies regarding material cybersecurity incidents and standards and processes to manage cybersecurity risks.

Current Status of Bill HJRES 100

Bill HJRES 100 is currently in the status of Bill Introduced since November 9, 2023. Bill HJRES 100 was introduced during Congress 118 and was introduced to the House on November 9, 2023.  Bill HJRES 100's most recent activity was Placed on the Union Calendar, Calendar No. 614. as of November 1, 2024

Bipartisan Support of Bill HJRES 100

Total Number of Sponsors
2
Democrat Sponsors
0
Republican Sponsors
2
Unaffiliated Sponsors
0
Total Number of Cosponsors
12
Democrat Cosponsors
0
Republican Cosponsors
12
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HJRES 100

Primary Policy Focus

Finance and Financial Sector

Potential Impact Areas

- Computer security and identity theft
- Computers and information technology
- Congressional oversight

Alternate Title(s) of Bill HJRES 100

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".
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".

Comments

Vincenzo Adler profile image

Vincenzo Adler

380

1 year ago

I support this decision.

Brynn O'Brien profile image

Brynn O'Brien

476

1 year ago

Ugh, can't believe they're tryna pass this dumb bill disapproving the SEC rule on cybersecurity. Like, seriously? We need more protection, not less. This is gonna mess things up big time.

Eliseo Leach profile image

Eliseo Leach

484

1 year ago

I can't believe this bill is actually happening. It's going to mess things up for a lot of us. I don't know how it's going to affect me personally, but I'm not happy about it. #disappointed

Rebecca Schroeder profile image

Rebecca Schroeder

458

1 year ago

As an independent voter, I am deeply concerned about the implications of this bill on cybersecurity measures. It is crucial for companies to have strong risk management, strategy, governance, and incident disclosure protocols in place to protect sensitive information and prevent cyber attacks. By disapproving this rule, we are potentially putting our personal data at risk and opening the door to more cyber threats. How will this decision impact our cybersecurity in the short term?

Lila Merritt profile image

Lila Merritt

500

1 year ago

I can't believe this bill is passing! It's just not right. This is going to mess everything up for us. It's not fair. They need to think about the people before they make decisions like this. It's going to cause a lot of problems for everyone.