On Monday, January 24th, SEC Chairman, Gary Gensler, released a speech relating to Cybersecurity and Securities Laws.
There were multiple areas focused on relating to where improvements can be made in our Industry such as:
- Data Privacy;
- Service Providers;
- Public Companies;
- Regulations Systems Compliance; and more.
It is clear that Chairman Gensler is focusing on having the SEC Staff provide and ask for recommendations to strengthen, deepen, and improve existing Cybersecurity Rules and Regulations such as Reg SCI, Reg S-P, etc.
He also focused on the importance of protecting clients and investors by making sure cyber disclosures are clear and concise, and ultimately to reduce the overall risk.
Vigilant’s Synopsis on Gary Gensler’s Remarks
It is clear that Cybersecurity is constantly changing and is very important to the SEC. As you can see, they are making a strong push towards enhancing and implementing Cybersecurity Rules and Regulations to help protect the Financial Sectors, Investors, Issuers, and the Economy. Be on the lookout for more Cybersecurity updates in 2022 from the SEC as they continue to gather recommendations.
At Vigilant, we have been in the industry for 17 years and have over 300+ years of experience uniting Regulatory Compliance, Legal, and Financial Expertise. If you would like to learn more about Vigilant, please contact us here.