December 2, 2023
Financial sector sees opportunities for collaboration in harmonizing cyber regulations
Financial sector groups have identified areas where increased collaboration between government and industry would be helpful to address regulatory harmonization, in response to the Office of the National Cyber Director’s request for information.
“Increased regulatory scrutiny for cyber has led to situations where several agencies conduct overlapping or consecutive exams on the same or similar topics. Some banks experienced a similar but distinct challenge where one regulator requested the same information across exams on different topics,” the Bank Policy Institute...