SEC to vote on cybersecurity, consumer privacy rule proposals

The Securities and Exchange Commission will vote on new rules and changes to bolster requirements for cybersecurity, privacy and tech infrastructure that officials said could encompass cryptocurrencies. The five-member commission will vote Wednesday morning on issues relating to cybersecurity, the privacy of consumer financial information. The SEC will vote on whether to propose changes to require brokers-dealers, investment companies, registered investment advisers and transfer agents to tell people when they have been affected by data breaches. A current rule requires “covered firms” to let customers know about how they use their financial information, but there is no requirement now to let them know about breaches, SEC Chair Gary Gensler said. “Critically, firms would need to help customers understand how to protect themselves from harm that might result from the breach,” Gensler said.