May 11, 2023
-s7-06-23
Cybersecurity Risk Management Rule
This rule needs to be amended to
Include an oversight committee housed by regulators and some retail participants (household) to ensure not only the issue being identified as a cyber security threat is being classified properly and was/is being addressed properly. It is apparent the SEC reactively regulating markets instead of weeding out systematic risks to strengthen our markets. This rule also needs to include penalties for the intrusion and accountability from executive management regarding poor risk management. This is all SRO which presents another problem in itself. Finally, a full, transparent report needs to be filed that is all inclusive instead of having redacted areas to hide or obfuscate data.
Transparency means nothing is hidden.
Lastly, pfof needs to be eliminated and off exchange trading/internalization.