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Commentary by Steven Lofchie

SEC Chair Gary Gensler asserted that the agency "takes its cybersecurity obligations seriously" and that Commission staff recognize that the recent hack of the SEC's "X" account by an unauthorized party raises "concerns about the security of the SEC's social media accounts."

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."

CFTC Chair Rostin Behnam requested an annual budget of $411 million for fiscal year 2024 to support enforcement, market oversight, clearing and risk and to expand the agency's ability to collect and analyze market and industry data.