SEC Commissioner Aguilar Addresses the Balance between Modernized Information Gathering and Cybersecurity Risk

SEC Commissioner Aguilar addressed concerns that the SEC's initiatives to modernize information-gathering could make it more vulnerable to cyberattacks.

In a public statement, Commissioner Aguilar noted that the introduction of technology has allowed the SEC to collect, analyze and leverage data that is necessary for understanding market activity. However, he recognized that the creation of a single repository of structured data also attracts cybercriminals. Despite the challenge of regulating and safeguarding against cyberthreats simultaneously, the SEC must focus on (i) making sure that personnel are well trained, since "the single greatest cybersecurity risk that any organization faces comes from within," (ii) developing and maintaining a set of well-defined policies and procedures that all employees can understand and implement, and (iii) investing in "the right tools," he said.