The bad news for financial institutions is that this elevated focus on cybersecurity will make meeting their cyber-security regulatory mandates only more challenging as more jurisdictions ramp up their cyber-security requirements.
The laws are changing all the time as New York, Colorado, and Connecticut enhance their cybersecurity laws, said Chad Pinson, managing director at Stroz Friedberg during a panel discussion hosted by the US Securities and Exchange Commission and FINRA. “It is hard to keep up with what those different states require.”
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