Inside Cybersecurity

June 3, 2020

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Banking panel Republicans question security around financial audit trail

October 23, 2019 |
Charlie Mitchell

Senate Banking Republicans hammered on potential cybersecurity threats to the Consolidated Audit Trail being developed for the financial sector, despite guarded support from Chairman Mike Crapo (R-ID) for the now-nine-year initiative, and the backing of committee Democrats and industry groups.

At an oversight hearing Tuesday, Sens. Tom Cotton (R-AR), Mike Rounds (R-SD) and John Kennedy (R-LA) raised extensive cybersecurity concerns over a Securities and Exchange Commission initiative that sprang from the “flash crash” of the stock market in 2010...

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