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Well worth a read. The Chair of the SEC highlights the spring regulatory agenda. A regulatory agenda that includes 2 cybersecurity regulations, that are at the final stage.
1. Cybersecurity Risk Management for Investment Advisers, Registered Investment Companies, and Business Development Companies.
2. Cybersecurity Risk Management Rules for Broker-Dealers, Clearing Agencies, MSBSPs, the MSRB, National Securities Associations, National Securities Exchanges, SBSDRs, SBS Dealers, and Transfer Agents
When signed into law these regulations complete a a suite of regulations along side the SEC final cyber rule for Covered market entities. They will regulate cybersecurity risk management across capital markets, investment advisors and market infrastructure.
Many ask why do we need so much regulation? One must consider U.S capital markets are the largest in the world. With over $40 trillion of market capitalization; enabling capital formation; managing liquidity and investments. Individually cybersecurity is the top risk facing organisations. Collectively a cyber attack against market infrastructure could cause a systemic global shock.
@Thaddeus Dziekanowski Brian D. McCarthy Rachel V. Rose, JD, MBA
Veritas GRC U.S. Securities and Exchange Commission
#cybersecurity #cyberriskmanagement #cyberregulation
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