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Reuters: Mary Jo White Says Financial System Cyber Policies Insufficient Against Threats

cybersecurityMary Jo White, Securities and Exchange Commission chair, has said some cyber policies over the U.S.’ financial system are not enough to mitigate risks, Reuters reported Wednesday.

White told the Reuters Financial Regulation Summit that SEC discovered some major exchanges, dark pools and clearing houses that did not have adequate cyber policies to address potential threats, Lisa Lambert and Suzanne Barlyn wrote.

“What we found, as a general matter so far, is a lot of preparedness, a lot of awareness but also their policies and procedures are not tailored to their particular risks,” said White.

White added SEC examiners work to assess the cyber defenses of broker-dealers and investment advisers, Lambert and Barlyn wrote.

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