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Wall Street regulator to unveil new cybersecurity, customer data rules

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The top U.S. markets regulator is set to unveil a new effort to control how broker-dealers and others tackle the risk of hacking and respond to theft of customer data, continuing a regulatory drive on cybersecurity in the financial sector. | Reuters

The Securities and Exchange Commission’s five members are due to vote March 15 on issuing three new proposals, according to the agency’s website. Since last year, the commission has unveiled a series of cybersecurity proposals citing increased danger to public companies and investors.

A similar proposal released last year applied to investment advisers and drew objections from some industry groups, who said requiring investment firms to report hacking incidents confidentially within 48 hours could hinder efforts to fix the problem quickly.

 

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