The National Security Division and the Department of Justice requested comment on potential rulemakings related to the implementation of U.S. President Joseph R. Biden's Executive Order authorizing the Attorney General to take actions to prevent the transfer of Americans’ personal data to countries of concern.
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SEC Chair Gary Gensler asserted that the agency "takes its cybersecurity obligations seriously" and that Commission staff recognize that the recent hack of the SEC's "X" account by an unauthorized party raises "concerns about the security of the SEC's social media accounts."
House Financial Services Committee Chair Patrick McHenry demanded that the SEC explain the breach of its X (Twitter) account that resulted in a false post stating that Bitcoin ETFs were approved to be listed on all registered national securities exchanges.
Director of the SEC Division of Corporation Finance Erik Gerding highlighted the rationale and mechanics behind the SEC's new rules on disclosure of cybersecurity policies and related incidents.
The SEC set an effective date of September 5, 2023 for final disclosure requirements on cybersecurity risk management, governance, strategy and incident reporting by public companies.