Financial sector releases 'NIST-like' cyber framework aimed at reducing compliance redundancy

Industry leaders in the financial sector are hoping regulators will use a “profile” they've developed based on the National Institute of Standards and Technology's cybersecurity framework in an attempt to consolidate compliance efforts, a project they say would serve to improve cybersecurity.

“For the regulatory community, the benefits also are numerous and substantial,” reads an overview of the profile unveiled today at an event where various regulators were slated to issue “statements of support” and expand on how the...