US SEC Chair Gensler maps out potential overhaul to agency's cyber rules

WASHINGTON : The U.S. securities regulator is considering extending cyber risk management rules to third-party service providers, and beefing up public company disclosures when they experience a breach, the head of the Securities and Exchange Commission said on Monday.

Gensler added that new cybersecurity rules could extend to registered firms' third-party service providers, including fund administrators, index providers, custodians and others not currently registered with SEC. "This could help ensure important investor protections are not lost and key services are not disrupted as financial sector registrants increasingly rely on outsourced services" Gensler said.

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