SEC kicks off comment periods on two of its cyber proposals; industry group seeks more time to study interplay of proposed rules

The Securities and Exchange Commission today published a proposed cybersecurity rule for broker-dealers, investment companies and advisors, starting the clock on a 60-day comment period that an industry group has already criticized as inadequate given the multiple cyber rulemakings in play at the SEC.

The proposed update to so-called Regulation S-P published today in the Federal Register would “require brokers and dealers, investment companies, and investment advisers registered with the Commission to adopt written policies and procedures for incident...