Bill > SJRes50

This Joint Resolution, passed by both the Senate and the House of Representatives, formally disapproves a rule proposed by the Securities and Exchange Commission (SEC), an independent agency of the U.S. federal government responsible for regulating the securities industry. The rule in question, published in the Federal Register on August 4, 2023, concerned requirements for publicly traded companies regarding their cybersecurity risk management, strategy, governance, and the disclosure of cybersecurity incidents. By invoking Chapter 8 of Title 5 of the United States Code, which outlines the Congressional Review Act, Congress is exercising its authority to overturn regulations issued by federal agencies, meaning this SEC rule will have no legal effect.