News Centre

Statement On Proposed Cybersecurity Rule 10 And Form SCIR, SEC Commissioner Hester M. Peirce, March 15, 2023

Date 15/03/2023

Thank you, Chair Gensler. No one questions the threat cybercriminals pose to our capital markets, and the need for broker-dealers and other regulated entities to protect themselves and their customers and counterparties from cyberthreats. As the proposing release notes, there are considerable reputational, psychological, and financial costs associated with these breaches. Increasing reliance on technology in our markets has only heightened how important it is for firms to take steps to prevent cyberattacks and mitigate their effects. Addressing this challenge constructively requires the Commission to work with firms in a way that helps them shore up cyber-defenses and minimize the consequences of cyberattacks. Unfortunately, with this proposal, the Commission has apparently decided its role is to be an enforcer demanding that a firm dealing with a cybersecurity attack first and repeatedly attend to the Commission’s voracious hunger for data. The Commission stands ready, not with assistance but with a cudgel to wield if the firm fails to comply with a complicated reporting regime, even if the firm resolves the incident by avoiding significant harm to the firm or its customers.

Statement On Amendments To Regulation SCI, SEC Chair Gary Gensler, March 15, 2023

Date 15/03/2023

Today, the Commission is considering amendments to Regulation Systems Compliance and Integrity (Reg SCI), the rule promoting the resiliency of key systems for key market participants. I am pleased to support this proposal because, consistent with maintaining orderly markets, these amendments would help promote the capacity, integrity, resiliency, availability, and security of these critical intermediaries.

SEC Proposes To Expand And Update Regulation SCI

Date 15/03/2023

The Securities and Exchange Commission today proposed amendments to expand and update Regulation Systems Compliance and Integrity (SCI), the set of rules adopted in 2014 to help address technological vulnerabilities in the U.S. securities markets and improve Commission oversight of the core technology of key U.S. securities markets entities (SCI entities).

Statement On Regulation SP: Privacy Of Consumer Financial Information And Safeguarding Customer Information, SEC Commissioner Hester M. Peirce, March 15, 2023

Date 15/03/2023

Thank you, Chair Gensler. The Commission routinely explains the need for new disclosure mandates by insisting that investors really want the information. In this case, I agree. Investors want to know if their personal information has been compromised and want it to be protected, and thus I support this proposal. However, my support is far from unreserved, and my willingness to vote for a final rule will depend largely on our response to problems identified by commenters.

Statement On Enhanced Cybersecurity or Market Entities, SEC Chair Gary Gensler, March 15, 2023

Date 15/03/2023

Today, the Commission is considering a proposal on cybersecurity practices for broker-dealers, clearinghouses, and other market entities. I am pleased to support this proposal because, if adopted, it would set standards for these market entities’ cybersecurity practices.

Statement On Amendments To Regulation S-P, SEC Chair Gary Gensler, March 15, 2023

Date 15/03/2023

Today, the Commission is considering amendments to require covered firms to notify their customers of data breaches.[1] I support these amendments because, through making critical updates to a rule first adopted in 2000, this proposal would help protect the privacy of customers’ financial data.

CryptoCompare Asset Report - February 2023: Bitcoin Associated Tokens Rally Amid Ordinals Hype

Date 15/03/2023

In February, traditional and crypto markets reverted from the positive performance seen during the first month of the year, with equity indices falling between 3 - 4%. While BTC and ETH saw marginal positive returns, assets further down the risk curve (such as ADA and SOL) saw negative performance throughout the month. 

ISDA: Progress On Global Transition To RFRs In Derivatives Markets

Date 15/03/2023

This paper examines the progress made on the global transition to risk-free rates (RFRs). Specifically, it analyzes the adoption of the Secured Overnight Financing Rate in different regions and highlights major industry developments that are expected to take place in the first half of 2023. The paper also explores several current topics related to the RFR transition, including synthetic LIBOR rates, term RFRs, credit-sensitive rates and the modification of clearing and trading requirements.

StoneX Names Thomas Friesleben Managing Director For StoneX Pro EMEA

Date 15/03/2023

• Announcement furthers StoneX commitment to expanding its presence in Europe for the EMEA region and the launch of StoneX Pro for EMEA Foreign Exchange clients

SEC Proposes New Requirements To Address Cybersecurity Risks To The U.S. Securities Markets

Date 15/03/2023

The Securities and Exchange Commission today proposed requirements for broker-dealers, clearing agencies, major security-based swap participants, the Municipal Securities Rulemaking Board, national securities associations, national securities exchanges, security-based swap data repositories, security-based swap dealers, and transfer agents (collectively, “Market Entities”) to address their cybersecurity risks.