As cybersecurity policy takes shape, are data vendors next in SEC's sights?

New rules target a range of players in the capital markets, from broker-dealers to trading venues, and the agency could be coming for data and analytics vendors and index providers.

Say what you like about Gary Gensler (and many on the Street have said quite unflattering things); he is an extremely effective regulator.

Gensler chaired the Commodity Futures Trading Commission (CFTC) in the post-crisis era, when US financial regulators were writing and implementing rules to fulfill the Dodd–Frank Act. By the time he stepped down in 2014, Gensler’s CFTC—a much smaller and poorer agency than, say, the Securities and Exchange Commission (SEC)—had written 70% of its allotment of

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