SEC cyber rules risk creating web of confusion and costs

Proposals would require breach notifications, public disclosures and annual cyber assessments

The cyber attack on trading services provider Ion Group has pushed these incidents to the top of everyone’s agenda. But an intervention by the US Securities and Exchange Commission on the subject of cyber security may be a case of right time, wrong rules, say financial institutions.

Complicating the matter is that – in what has become something of a repeated pattern for SEC chair Gary Gensler – the agency intends to create and amend multiple rules at the same time. Add to this complex set of

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