SIFMA joined the Bank Policy Institute and the American Bankers Association in support of the Federal Information Security Modernization Act of 2023. The Act would "enhance transparency over federal agency information security practices."
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The Managed Funds Association warned that the SEC's proposed cybersecurity rules may cause the "unintended consequence of diverting advisers' resources during a critical window following discovery of an attack."
The Financial Information Forum, Nasdaq, CME and Investment Company Institute recommended changes to the SEC's proposed rules on cybersecurity risk management practices.
In comments on a CFPB outline of proposals to implement a consumer's right to access personal financial information, SIFMA argued for limiting the scope of the data required to be reported, establishing necessary exemptions and further protecting data providers.
The Bank Policy Institute, ABA, Institute of International Bankers and SIFMA urged the Cybersecurity Infrastructure Security Agency to develop incident reporting requirements that are "simple, tied to an actionable purpose and broadly useful."