White House will veto bill to revoke SEC cyber incident reporting rule

U.S. President Joe Biden intends to veto Senate legislation that would overturn the Securities and Exchange Commission's cyber incident reporting rule, The Record reports. In a statement, the White House said, "Reversing the SEC's rulemaking would not only disadvantage investors who deserve to have a clear understanding of the cyber risk underlying their investment but would also cause companies to undervalue investments in cyber programs."