Security - Check Permissions

MFDF - Mutual Fund Directors Forum - Legislators Request Information on Cyber Attacks

Member Login

Request an account

Sample Banner 2

Legislators Request Information on Cyber Attacks

Representative Elijah Cummings and Senator Elizabeth Warren have sent out a round of letters to sixteen financial service providers, including several asset managers, requesting information about recent data breeches, according to Reuters. The letters cited a recent USA Today article that highlighted that hackers have stolen over 500 million financial records in the past year. The legislators requested details on any recent cyber attacks, a description of the firm’s relevant policies and procedures relating to third-party oversight, and “any recommendations for improvements in cybersecurity laws or the coordination of efforts to identify and respond to emerging trends in cybersecurity risks to help prevent future data breaches.” The letter also requests a briefing from the organization’s Chief Information Security Officer (or equivalent) by December 8, and a full response by December 19.

A press release from the House Committee on Oversight and Government Reform can be found here.