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ARTICLE · 16 OCTOBER 2019

The SEC's Regulation S-P In The Age Of Cybersecurity

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Bylined article by Financial Services Regulatory & Enforcement partner Jeffrey Taft and associates Matthew Bizanz and Leslie Cruz.

United StatesTechnology

Bylined article by Financial Services Regulatory & Enforcement partner Jeffrey Taft and associates Matthew Bizanz and Leslie Cruz.

Cybersecurity worries regularly lead the news and the boardroom agenda as a major part of the zeitgeist of our time. A single cybersecurity incident can move markets, end careers, or prompt litigation. In this age of cybersecurity, financial institutions have rapidly realized the importance of maintaining robust defenses to protect both customers and the institution from bad actors, whether internal or external.

Reflecting the piecemeal nature of financial services regulation in the United States, federal and state regulators have begun jockeying for position by adapting existing regulations to cybersecurity concerns and by breaking ground with new cybersecurity regulations. Each regulator has taken its own path with respect to the institutions it regulates, and no one approach has become dominant.

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