ABA Recommends Rescinding SEC Item 106 Cybersecurity Disclosure Rule
Summary
The American Bankers Association submitted comments to the SEC recommending rescission of Item 106 cybersecurity disclosure requirements applicable to public companies. The ABA's comment letter addresses cybersecurity incident disclosure obligations and suggests revising the current SEC framework for how banks and other public companies must disclose material cybersecurity incidents.
What changed
The American Bankers Association submitted formal comments to the SEC recommending rescission of Item 106 cybersecurity disclosure rules under Regulation S-K. The recommendation specifically addresses cybersecurity incident disclosure requirements, including Form 8-K filing obligations for material cybersecurity incidents.
For public companies and financial institutions subject to SEC reporting requirements, this recommendation signals ongoing industry concern about the scope and burden of cybersecurity disclosure obligations. Compliance teams should monitor whether the SEC responds to this recommendation and any subsequent changes to disclosure requirements.
What to do next
- Monitor for updates on SEC cybersecurity disclosure requirements
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Apr 11, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
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ABA, associations offer recommendations for revising SEC cybersecurity disclosures
April 10, 2026 Reading Time: 1 min read The American Bankers Association today joined four associations in providing recommendations for how the Securities and Exchange Commission could reform its regulations for cybersecurity disclosures by businesses.
SEC Chairman Paul Atkins in January issued a request for comment on reforming Regulation S-K’s cybersecurity disclosures. In a joint letter, ABA and the other associations had several suggestions:
- Rescind Item 106 of the regulation in its entirety, given that cybersecurity risks do not justify a departure from the SEC’s principles-based disclosure regime applicable to other risks.
- If Item 106 is not rescinded, amend it and related provisions to align the definition of “cybersecurity incident” to the impact-based standards used in the prudential banking agencies’ Computer-Security Incident Notification Rule, and to streamline the disclosure process.
- Rescind Form 8-K, Item 1.05 and the corresponding Form 6-K provision, and revert to the longstanding principles-based approach for incident disclosure under which material cybersecurity incidents can be appropriately disclosed.
- If Item 1.05, Item 106 and the corresponding reporting provisions are not rescinded, provide explicit safe harbor protection under Section 27A of the Securities Act and Section 21E of the Exchange Act for cybersecurity disclosures. Tags: ABA news SEC Share Tweet Pin ### Related Posts
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March 19, 2026
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