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Biden will veto attempts to kill off SEC’s security breach reporting rules

February 1, 2024

The Biden administration has expressed to congressional representatives its strong opposition to undoing the Securities and Exchange Commission’s (SEC) strict data breach reporting rule.

In a policy statement [PDF] published yesterday by Biden’s Office of Management and Budget (OMB), the administration said it “strongly opposes” Senate Joint Resolution 50, introduced in November by Senator Thom Tillis (R-NC). The joint resolution, along with House Joint Resolution 100, sponsored by Representative Andrew Garbarino (R-NY) and introduced the same day, would nullify the SEC rules adopted in July of last year.

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