The Securities and Exchange Commission issued new cybersecurity guidance in February. Critics say the new recommendations don’t go far enough and lack teeth. The new guidance doesn’t offer much more than the original 2011 recommendations did, says Ernest Badway, co-chair of the securities industry practice at Fox Rothschild LLP. Badway: “There’s no bite. All it really says is that everyone knows it’s important to have policies, procedures, and a plan in place for when something goes wrong” New York began requiring comprehensive cybersecurity assessments from financial services companies last year.”]
Source: https://www.csoonline.com/article/3260006/secs-new-cybersecurity-guidance-falls-short.html