On July 26, Wall Street's top regulator was set to adopt new rules mandating the disclosure of hacking incidents by publicly traded companies. Officials stated that this measure aimed to assist the investing public in dealing with the increasing costs and frequency of cyber attacks. Additionally, the U. S. Securities and Exchange Commission (SEC) planned to issue a proposal governing potential conflicts of interest in broker-dealers' utilization of artificial intelligence (AI). This reform was partially influenced by the events of the 2021 "meme stock" rally, during which robo-advisers and brokers employed AI and game-like features to drive trading. If approved, the cybersecurity rule would require companies to report a cyber breach within four days of determining its material impact on investors. Exceptions allowing delays would be granted if deemed necessary by the Justice Department to protect national security or ongoing police investigations. Furthermore, companies would be obligated to periodically disclose their efforts in identifying and managing cyber threats.

The proposed cybersecurity rule, initially outlined in March 2022, is part of the SEC's broader initiative to safeguard the financial system against data theft, system failures, and cyber intrusions. Prior to the vote, SEC officials acknowledged incorporating feedback from the public, resulting in various modifications to the proposal. These changes included the removal of a requirement for companies to disclose board members' expertise in cybersecurity and a narrowing of the definition of information that must be disclosed. The AI proposal, if issued, would oblige broker-dealers to address any conflicts of interest arising from predictive data analytics on trading platforms that prioritize the broker's financial interest over the interests of the firm's clients. SEC Chair Gary Gensler, who had provided a preview of the AI rule in recent weeks, highlighted the risks posed by the use of AI to financial stability. Furthermore, the SEC has plans to propose a similar rule governing the use of AI by investment advisers. In another vote scheduled for the same day, the SEC will decide whether to propose changing rules that exempt certain online investment advisers from registering under the Investment Advisers Act of 1940. Taiwanese chipmaker United Microelectronics Corp (UMC) mentioned that it foresees "uncertain" demand in the third quarter but remains committed to its 2023 capital spending plans as it prepares to meet customer demands for AI.