The Investment Company Institute (ICI), which represents over 95 million U.S. shareholders, wants the SEC to clear up concerns about its cyber defenses before requiring funds to submit monthly performance data to the regulator, Paul Schott Stevens, the group’s chief executive, told Reuters in a phone interview.
“What the SEC breach now makes very clear is precisely what we were concerned about – that market-sensitive information of that nature can be exploited to the disadvantage of millions and millions of investors,” Stevens said.
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