Political Quotes

“I appreciate the opportunity to work with Mr. Sherman and the rest of the committee on this bill. It is indeed impressive that it was 59-1 in our committee in its present form. It does do some really good things, and I think the message that it really sends is that it is important for our government agency to lead by example. The SEC holds people that they oversee accountable for maintaining cybersecurity and protecting personally identifiable information. What we know: on September 20, Chairman Clayton highlighted that they had had a breach of the EDGAR system. This follows on an April 2016 report by the GAO that highlighted some concerns with their cybersecurity program with SEC. The concerning thing is that when Chairman Clayton took over the SEC, he found this so much time afterwards. It wasn't part of his in-briefing. So there is a real concern that there could be some systemic cybersecurity risks there. I think it is great that our committee came together to provide SEC a mandate to get their own house in order in quick fashion, and to do that with not just their existing products, but with products that are on the cusp of launching: notably, the consolidated audit trail. {time} 1615 The consolidated audit trail became the subject of some additional concerns because it is so close to launching.…”