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Major banking groups are pushing the SEC to repeal a rule mandating public disclosure of cybersecurity incidents within four days. They argue the requirement conflicts with confidential reporting protocols designed to protect critical infrastructure.
- Five major banking groups jointly petitioned the SEC to eliminate the cybersecurity disclosure requirement.
- The rule currently forces public companies to report cyber incidents within four days of discovery.
- Banking associations claim the rule creates security risks by potentially alerting hackers to vulnerabilities.
📎 Related coverage from: cointelegraph.com
Related Tags: SEC
Other Tags: American Bankers Association, Bank Policy Institute