Following years of guidance, cybersecurity rulemaking now has urgency (InvestmentNews)

The SEC has previously issued cybersecurity guidance through risk alerts and examination priorities while also citing firms for deficiencies. So it should come as no surprise to see the SEC now pursuing rulemaking on cybersecurity to add more standardization for firms. Firms have been seeking clarity and a written rule will provide firms with the necessary direction on how to best protect their data, comments Amy Lynch, FrontLine’s Founder and President. Ms. Lynch also explains that the SEC may utilize the current NFA rule requiring an information security program as a starting point for crafting its own rules while making them more expansive. See InvestmentNews, “Cybersecurity rule would clarify what SEC expects of advisers“