SEC Probes Hacker Risk to Wall Street

Agency considers a proposed rule that would require stock exchanges to tell members about breaches of critical systems.

The U.S. Securities and Exchange Commission (SEC) is examining the exposure of stock exchanges, brokerages, and other Wall Street firms to cyber attacks that have been called a threat to financial stability.

The SEC is holding a roundtable discussion of those risks in Washington today as it weighs a new rule proposal asking whether stock exchanges should be required to tell members about breaches of critical systems. More than half of exchanges surveyed globally in 2012 said they experienced a cyber attack, while 67 percent of U.S. exchanges said a hacker tried to penetrate their systems.

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