SIFMA Comment on Cybersecurity Executive Order 

Washington, DC, May 12, 2017 – SIFMA today released the following statement from Kenneth E. Bentsen, Jr., SIFMA president and CEO, regarding President Trump’s executive order on cybersecurity:

“We commend the Administration for its focus on the critically important issue of cybersecurity. Improving both the government’s and the private sector’s ability to defend against cyber attacks is a top priority for the financial services industry.  SIFMA member firms dedicate tremendous resources to protect the integrity of the capital markets and the millions of Americans who use financial services every day.

“The Administration’s Executive Order is a positive step forward for enhancing the cyber defense capability of the government, but we urge those agencies and departments not directly covered by this action to adopt these policies to better protect Americans.

“We are encouraged by the focus on international collaboration and the intent to align cybersecurity policy with the NIST cybersecurity framework. It is imperative that cybersecurity guidance and regulation be appropriately coordinated to avoidduplications and conflict that can detract from the overall mission.”

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SIFMA is the voice of the U.S. securities industry. We represent the broker-dealers, banks and asset managers whose nearly one million employees provide access to the capital markets, raising over $2.5 trillion for businesses and municipalities in the U.S., serving clients with over $18.5 trillion in assets and managing more than $67 trillion in assets for individual and institutional clients including mutual funds and retirement plans. SIFMA, with offices in New York and Washington, D.C., is the U.S. regional member of the Global Financial Markets Association (GFMA). For more information, visit www.sifma.org.