CFTC says will check cyber-security at futures markets

CFTC chairman Timothy Massad said his agency, the regulator of futures exchanges, would focus on threats of cyber attacks on the derivatives industry, said Reuters, which quoted him as telling the Senate Agriculture Committee, “The risk is apparent.” Massad said the CFTC “will focus on cybersecurity as it conducts compliance exams for exchanges and clearinghouses to make sure they are protecting themselves from cyber attacks,” said Reuters. An assistant FBI director told the Senate Banking Committee that cyber attacks were becoming increasingly complex. Massad said budget constraints prevent CFTC from conducting as thorough a review as he desired.

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