SEC Cybersecurity Audit: Strengthening Financial Data Protection for Investors
This Act mandates an independent audit of the information technology systems and data security of the Securities and Exchange Commission (SEC). The goal is to verify if the SEC effectively protects sensitive financial data and if its systems are resilient against cyberattacks. Strengthening the security of the financial regulator is crucial for market stability and indirectly protects citizens' savings and investments.
Key points
Requires the independent Government Accountability Office (GAO) to perform a comprehensive audit of the SEC's IT infrastructure and data handling within one year.
The audit will examine SEC's IT spending, contracting quality, and the sufficiency of cybersecurity systems, including analysis of any recent breaches or vulnerabilities.
The objective is to enhance the security of financial data and market stability, thereby indirectly safeguarding citizens' investments.
Status:
Expired
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