On November 19, the Securities Exchange Commission adopted Regulation SCI, which requires certain securities market participants to implement procedures to protect their technological systems and take corrective actions when necessary. In his statement at the open meeting, an SEC Commissioner noted that these measures respond to the "27 serious technical malfunctions at exchanges around the world in the last three years alone." Regulation SCI takes effect on February 15, 2015, and regulated entities must comply within nine months.
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