In late May 2025, the Securities Industry and Financial Markets Association (SIFMA), together with the American Bankers Association, Bank Policy Institute, Independent Community Bankers of America, and Institute of International Bankers submitted a petition to the Securities and Exchange Commission (SEC) requesting rulemaking to amend its Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure rule in order to rescind the disclosures mandated thereunder in Item 1.05 of Form 8-K and the corresponding Form 6-K requirements.

The SEC adopted Item 1.05 of Form 8-K on July 26, 2023, which mandated, in part, that public companies disclose a cybersecurity incident that is deemed to be material. Disclosures must include the material aspects of the nature, scope and timing of t

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