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Yesterday the SEC released several cybersecurity risk management proposals focused on
1. Updates to regulation S-P. Requiring brokers, dealers, investment companies and registered investment advisers adopt written policies and procedures with administrative, technical, and physical safeguards to protect customer records and sensitive personal information.
2. A cybersecurity risk management proposal that includes broker-dealers, clearing agencies, security-based swap entities, and exchanges to adopt and implement policies and procedures that address cybersecurity risks.
3. Proposed amendments to Regulation System Compliance and Integrity, or Regulation SCI, to ensure that key securities market infrastructure entities have systems that are robust, resilient, and secure.
4. The comment period for the SECs cybersecurity risk management proposal that affects investment advisors and fund was reopened.
Yesterday a broad portfolio of cybersecurity risk management proposals were put to the SEC commissionaires for comment. Who raised concerns over the amount and complexity of the changes being put forward to financial markets covered by the SEC. One suspects that there will be some very robust debates over the breadth, depth and validity of these proposals before or if they make it to regulation.
(https://lnkd.in/eYCtbxax)
(https://lnkd.in/e8Rjx9yF)
Ted Dziekanowski Rachel V. Rose, JD, MBA Stephen Pitt-Walker, JD, FGIA
#cybersecurity #cyberregulation #securitiesandexchangecommission #capitalmarkets #cyberriskmanagement
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