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Capital market participants told to beef up cybersecurity


Published December 18, 2020, 6:00 AM
The Securities and Exchange Commission (SEC) is preparing new rules to beef up cybersecurity in publicly listed companies (PLCs), exchanges and other capital market participants amid the surge in digital transactions in the country.
The Commission has released a draft memorandum circular seeking to require all securities market participants, including broker-dealers, assets managers, transfer agents and self-regulatory organizations (SROs) to adopt best practices in dealing with cyber security risks. 
These include the identification of critical assets, information and systems, adoption of organizational or technical measures to protect information systems, as well as the formulation of a response plan and recovery plan in the event of cybersecurity breaches.  ....

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