{"id":398597,"date":"2022-01-24T23:41:00","date_gmt":"2022-01-24T20:41:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/secs-gensler-wants-to-regulate-company-cybersecurity-policies\/"},"modified":"2022-01-24T23:41:00","modified_gmt":"2022-01-24T20:41:00","slug":"secs-gensler-wants-to-regulate-company-cybersecurity-policies","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/secs-gensler-wants-to-regulate-company-cybersecurity-policies\/","title":{"rendered":"#: SEC\u2019s Gensler wants to regulate company cybersecurity policies"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a23a71f3bd4d\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a23a71f3bd4d\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/secs-gensler-wants-to-regulate-company-cybersecurity-policies\/#SEC_chief_calls_on_Congress_to_consider_broadening_financial_regulators_authorities\" >SEC chief calls on Congress to consider broadening financial regulators\u2019 authorities<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/secs-gensler-wants-to-regulate-company-cybersecurity-policies\/#Chris_Matthews\" >Chris Matthews<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#: SEC\u2019s Gensler wants to regulate company cybersecurity policies<\/strong>&#8221;<\/p>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\"><span class=\"ez-toc-section\" id=\"SEC_chief_calls_on_Congress_to_consider_broadening_financial_regulators_authorities\"><\/span>\n  SEC chief calls on Congress to consider broadening financial regulators\u2019 authorities<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\" role=\"region\" aria-label=\"article body\">\n<div class=\"article__side\">\n<div class=\"container--sticky not-active\">\n<div id=\"cx-next\" data-nosnippet>\n              <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0000567192\" role=\"document\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div data-layout=\"\n                inline\" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetArticleReader\n              \n              inline\n  article__inset\n          article__inset--type-InsetArticleReader\n              article__inset--inline\n  \"><\/p>\n<div class=\"media-object-article-reader\">\n<div class=\"audioplayer\" data-sbid=\"WP-MKTW-0000567192\" role=\"region\" aria-label=\"Listen to Article\" tabindex=\"-1\" id=\"articlereader\" data-show-title=\"false\" data-theme=\"wsj-article-reader\" data-show-header=\"false\" data-show-subscribe=\"false\" data-ads-enabled=\"true\" data-save-publication=\"false\">\n        <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       The rising incidence of cyberattacks is costing the U.S. economy <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/trumpwhitehouse.archives.gov\/wp-content\/uploads\/2018\/03\/The-Cost-of-Malicious-Cyber-Activity-to-the-U.S.-Economy.pdf\" class=\"icon none\">billions every year<\/a>, while threatening the functioning of critical infrastructure like pipelines and water treatment facilities. <\/p>\n<p> President Joe Biden has made it a priority to improve U.S. government defenses against cyberattacks, and Congress is considering legislation that would improve public-private collaboration on the issue. <\/p>\n<div class=\"paywall\">\n       Now, Securities and Exchange Commission Chairman Gary Gensler wants to leverage  his agency\u2019s regulatory powers to compel companies to disclose risks to their businesses from cyber attacks and to systematically divulge incidents of cyber attacks to investors, according to a speech delivered Monday before the Northwestern Pritzker School of Law\u2019s Annual Securities Regulation Institute. <\/p>\n<p><strong>Read more<\/strong>: Can Biden really protect Americans from the next crippling cyber attack?<\/p>\n<p>\u201cCybersecurity is an emerging risk with which public issuers increasingly must contend,\u201d Gensler said. \u201cA lot of issuers already provide cyber risk disclosure to investors. I think companies and investors alike would benefit if this information were presented in a consistent, comparable, and decision-useful manner.\u201d<\/p>\n<p>Gensler noted that public companies are already required to divulge material information, including about cyber attacks, to their investors in a timely fashion. Last June, the SEC <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.sec.gov\/news\/press-release\/2021-102\" class=\"icon none\">settled charges<\/a> against First American Financial Corp.<br \/>\n        FAF,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210452372\/composite\" class=\"positive\">+0.69%<\/bg-quote><br \/>\n       for inadequate control procedures for dealing with a revealed cyber vulnerability. First American settled without admitting or denying the SEC charges.<\/p>\n<p>The SEC chairman also suggested that the agency, perhaps with additional authority granted by Congress, could look to regulate public companies\u2019 third-party service providers. These companies include index providers, data analysis concerns, and investor reporting systems. The SEC and Department of Justice recently investigated a case in which a criminal group in Russia hacked into the computer networks of vendors used by public companies to submit filings to the SEC.<\/p>\n<p><strong>See also<\/strong>: Feds charge Russian nationals with hacking, illegal trading scheme<\/p>\n<p>Gensler suggested the SEC could promulgate rules making public companies accountable for their vendors\u2019 cybersecurity measures or to require public companies to identify which third-party providers pose risks.  Many of these vendors are not required by law to register with the SEC, but Gensler hinted that Congress may want to change that. <\/p>\n<p>\u201cIt\u2019s worth noting that banking agencies regulate and supervise certain<br \/>banks\u2019 third-party service providers directly through the Bank Service Company Act,\u201d Gensler said. \u201cIt might be worthwhile to consider similar authorities for market regulators.\u201d<\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>    <span>By<\/span><\/p>\n<div class=\"author mobile-scrim hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Chris Matthews\",\"subhead\":\"The Wall Street Journal\",\"list\":[{\"type\":\"link\",\"icon\":\"bio\",\"url\":\"https:\/\/www.marketwatch.com\/topics\/journalists\/chris-matthews\",\"text\":\"Biography\"},{\"type\":\"link\",\"icon\":\"twitter\",\"url\":\"https:\/\/twitter.com\/crobmatthews\",\"text\":\"@crobmatthews\"},{\"type\":\"link\",\"icon\":\"email\",\"url\":\"mailto:cmatthews@marketwatch.com\",\"text\":\"cmatthews@marketwatch.com\"}]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Chris_Matthews\"><\/span>Chris Matthews<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B20C05575-04D4-B545-78A7-98B2D5B7F6CC%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#: SEC\u2019s Gensler wants to regulate company cybersecurity policies&#8221; SEC chief calls on Congress to consider broadening financial regulators\u2019 authorities The rising incidence of cyberattacks is costing the U.S. economy billions every year, while threatening the functioning of critical infrastructure like pipelines and water treatment facilities. President Joe Biden has made it a priority to&#8230;<\/p>\n","protected":false},"author":1,"featured_media":398598,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.mktw.net\/im-464879\/social","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-398597","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/398597","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=398597"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/398597\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/398598"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=398597"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=398597"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=398597"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}