SEC Should Focus on Cybersecurity, Nominees Say

By Andrew Ramonas, Bloomberg BNA

Cybersecurity would be a top priority if confirmed to serve on the Securities and Exchange Commission, nominees Robert Jackson and Hester Peirce told the Senate Banking Committee Oct. 24.

The candidates expressed concern about the cyber-vulnerability of the planned Consolidated Audit Trail, a massive database of information intended to help the SEC fight illegal trading and monitor market disruptions. Jackson and Peirce also said they supported the commission’s role in policing the corporate disclosure of cyber issues, with Jackson saying the agency needs rules that keep up with the changing marketplace.

“We’ve got some work ...