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Wall Street Regulator Proposes New Hacking, Data and Market Resiliency Rules

Wednesday March 15, 2023. 09:01 PM , from Slashdot
The top U.S. markets regulator on Wednesday proposed a suite of new policies designed to harden the financial system against hacking, data theft and systems failure. From a report: With some dissents from Republican members, the Securities and Exchange Commission's (SEC) five members voted at a public meeting to propose rules on protecting consumer financial data, preventing hacking at stock exchanges and broker-dealers and buttressing the resiliency of market infrastructure, part of a continuing concern with modernizing regulations to match advancing technological threats. SEC Chairman Gary Gensler also opened the meeting with a nod to unfolding market turmoil, making veiled reference to the failure of U.S. lender Silicon Valley Bank and fears for the viability of Credit Suisse by restating his agency's pledge to support market resiliency. The three rule proposals together govern how broker-dealers address hacking incidents and protect consumer data, and how stock exchanges, transaction clearing houses and others deemed critical to national economic security gird themselves against system failure and cyber-intrusion.

Read more of this story at Slashdot.
https://news.slashdot.org/story/23/03/15/1933210/wall-street-regulator-proposes-new-hacking-data-and...
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