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Once it was a barren field of regulation, now regulators are strengthening existing rules or aiming to add new cybersecurity regulation on to the statute. In this case the NDAA 2023 that passed the House of Representative last month has a clause that impacts Systemically Important Entities (SIEs), in this case banks. Increasing further cybersecurity risk management regulation on an industry already covered by numerous other cybersecurity regulations.
It is a further example of the breadth of coverage of the NDAA and the focus on cybersecurity legislation on systemically important sectors. At a time of heightened cybersecurity risk, a lack of experienced resources and a swath of proposals for cybersecurity risk management regulation.
Ted Dziekanowski
#cybersecurity #cyberriskmanagement #cyberegulation #financialservices #theaugustagroup
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