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Wall Street Pushes Back Against SEC’s Cybersecurity Disclosure Rules
Wall Street Pushes Back Against SEC’s Cybersecurity Disclosure Rules
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Big banks balk at regulators’ demand for real-time breach reporting—claiming it’s ’operationally unworkable.’ Because nothing says ’secure’ like keeping incidents quiet until earnings calls.
Industry lobbyists argue the rules could expose vulnerabilities. Translation: They’d rather keep shareholders in the dark than admit how often hackers waltz through their digital backdoors.
The SEC isn’t backing down. Chair Gensler’s response? ’Try harder.’ Meanwhile, cybersecurity stocks spike on the news—because nothing fuels innovation like regulatory pressure and institutional incompetence.
Major U.S. banking groups are calling on the Securities and Exchange Commission (SEC) to cancel a rule that forces companies to tell the public about cyberattacks within four days. They believe the regulation is causing more harm than good. ... Read More
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