Regulation SCI

SIFMA provides comments to the Securities and Exchange Commission (SEC) on proposed Regulation Systems Compliance and Integrity (Reg SCI), File No. S7–01–13. SIFMA supports the proposed rule’s policy goal of enhancing the SEC’s oversight of the capacity, integrity, resiliency, availability and security of key automated systems of entities of particular importance to the national market system.

SIFMA believes it is critical the collective efforts involved in this rulemaking are focused on crafting a rule that not only enhances the Commission’s oversight of these important systems but also does so in a manner that: (1) is cost effective; (2) applies resources to those systems that are most critical; (3) is flexible enough to permit technological innovation to keep up with the needs of market participants in a timely manner; and (4) is appropriately tailored to enable effective compliance.