May 18, 2022
SIFMA calls on SEC to reconsider cyber proposal for investment advisors and funds, defer to CISA on incident reporting
A major financial markets group is urging the Securities and Exchange Commission to reconsider its proposed cyber regulation for investment advisors and firms, saying the SEC should instead provide guidance and coordinate with CISA under the recently enacted incident reporting law for critical infrastructure operators.
Further, the Securities Industry and Financial Markets Association says the SEC is exceeding its authority and has crafted a set a of requirements that are duplicative with other standards or unworkable.
“In our view, the...