Colorado Moving to Set Financial Adviser Cybersecurity Rule

From: Bloomberg/BNA

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.

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