By Tripp Baltz
Financial advisers and broker-dealers in Colorado may soon face the most far-reaching state cybersecurity requirements in the U.S. if a proposed rule is approved by the state Division of Securities.
The proposal, set for a May 2 hearing, would establish a more comprehensive cybersecurity regime than New York’s recent financial services security rule. The Colorado rule would reach financial advisers and broker-dealers untouched by the New York rule. Other states are expected to follow follow suit in adopting financial services cybersecurity rules.