With cybersecurity costs predicted to reach the trillions, the SEC is looking to extend and enhance cybersecurity measures across the financial sector.
Key Takeaways:
- The SEC is considering the extension of a current compliance requirement to capital markets that do not currently require them, such as market makers and broker-dealers.
- The rule, Regulation Systems Compliance and Integrity, requires that firms back data up, test for cybersecurity concerns, and prepare plans for business continuity in case of a breach.
- Other new regulations may include disclosure of data breaches and the subsequent updates to notifications made to affected clients.
Why it Matters:
- Regulations are constantly changing and impacting the way you conduct your business. BW Cyber can help you manage across compliance frameworks and minimize the friction associated with meeting compliance requirements.
- Stay informed on all cybersecurity regulations with BW Cyber’s Regulatory Compliance. We also offer cybersecurity awareness training to keep you and your team prepared for incoming threats and newly-enforced regulations.
Resources:
- Source: https://www.wsj.com/articles/sec-looks-to-bolster-markets-cyber-defenses-11643040982
- BW’s Training & Phishing: https://www.bwcyberservices.com/services/training-phishing/
- BW’s Annual Cybersecurity Assessment: https://www.bwcyberservices.com/annual-cybersecurity-assessment/
- BW’s Regulatory Compliance: https://www.bwcyberservices.com/regulatory_compliance
