CYBERSECURITY, FINANCIAL SERVICES CLIENT ALERT: Washington is Not Done Yet! Cybersecurity Regulatory Reform is on the Horizon for the Financial Services Industry

    16 August 2011
    The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) addresses myriad aspects of the financial services arena from orderly liquidation to derivatives, and yet, does not address the issues and concerns many relate to cybersecurity. This is one less new regulatory burden for the financial services industry, right? Wrong. Congress and the White House have made clear that cybersecurity concerns for Critical Infrastructure (CI) , including financial services, are on their top-line radar and will include some type of regulatory regime that will cover the financial services industry – potentially adding additional requirements on financial firms with preparing for, understanding, and ultimately, complying with even more regulations.