Banking and securities groups in joint filings urge SEC to revamp, harmonize cyber proposals

Four influential financial sector trade groups are jointly urging the Securities and Exchange Commission to significantly overhaul two proposed cybersecurity rules in order to “harmonize and deconflict” cyber requirements on the industry and to address a series of issues to make the rules workable.

“In order to ensure that SEC rules provide clarity and guidance on strong cybersecurity practices, foster collaboration with government agencies, and encourage proper cyber incident reporting,” the groups say, “the associations believe the SEC should revise...