On December 16, SEC Commissioner Luis Aguilar issued a statement regarding the SEC’s cybersecurity protocols for its data gathering efforts. Commissioner Aguilar’s statement follows various SEC initiatives to gather information about the securities markets that have led some market participants to worry about the strength of the SEC’s cybersecurity. In his statement, Commissioner Aguilar addressed current SEC cybersecurity measures and made recommendations he believes would allow the SEC to shore up its role as steward of sensitive personal and financial data.
In his statement, Commissioner Aguilar observed that “the most useful tool any regulator can possess is accurate and complete information on which to base its decisions.” Gathering this data has become increasingly difficult as the network of trading venues has increased to include 11 exchanges, approximately 44 alternative trading systems, and more than 200 broker-dealers. Monitoring these venues requires the SEC to access and safeguard vast amounts of information, information that is constantly at risk of a data breach. For the full article click here
from cyber security caucus http://ift.tt/1QQTfLJ
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