ARTICLE
1 August 2016

Financial Institutions Should Expect More SEC Cybersecurity Oversight

KL
Herbert Smith Freehills Kramer LLP

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According to the meeting synopsis, SEC Chairwoman Mary Jo White and CFTC Chairman Timothy Massad discussed their agencies' strategies for ensuring cyber resiliency in the financial sector.
United States Corporate/Commercial Law

At a recent meeting of the Treasury Department's Financial and Banking Information Infrastructure Committee, leaders of the SEC and the Commodity Futures Trading Commission reinforced the belief that the SEC will begin reviewing the consumer privacy and data protection practices at all publicly traded companies. According to the meeting synopsis, SEC Chairwoman Mary Jo White and CFTC Chairman Timothy Massad discussed their agencies' strategies for ensuring cyber resiliency in the financial sector. The SEC has recently publicly stated its concerns about cybersecurity and financial stability and the agency and the CFTC are expected to be more proactive about cybersecurity oversight, risk assessment and cyber examination in the coming weeks.
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