The Securities and Exchange Commission (SEC), on February 13, 2020, introduced Nancy Sumption as a New Advisor to the chairman of the Cybersecurity Policy, Jay Clayton, to address cybersecurity policy. As an advisor, she would also be holding discussions with external stakeholders to enhance the SEC’s mechanism for assessing and responding to cyber-related risks.
The reports further suggested that for two decades Sumption has worked as a public service officer and staff judge advocate in the US Air Force, US intelligence community and the Department of Justice. She also has worked for the corporate sector.
Recently, Sumption has stated, “I look forward to working with [Chairman Clayton], the SEC staff, fellow regulators, and industry to deepen our partnerships to enhance operational resilience and manage cyber risks.”
According to the reports, after the terrorist attack in the US, Sumption started several programs regarding information sharing and cybersecurity. She even educates the people on cybersecurity, data protection, etc. in a global economy. Soon after leaving the government services, Sumption held positions in the healthcare and finance sectors.
Clayton while encouraging Sumption, said that her knowledge regarding cyber risk would help the SEC in dealing with the increasing problem of crypto use for illicit activities. Clayton also thanked his former advisor, Kevin Zerrusen for his work. Clayton added that Zerrusen has helped them strengthen cybersecurity practices.
The SEC was very passive regarding its regulations. But presently, it has been hiring new advisors to its commission because many countries have taken its regulations very lightly. In the month of December, the SEC hired Kristina Littman as the Chief of the Division of Enforcement’s Cyber Unit. As a chief Littman has been leading a unit that protects investors and markets from cybercrimes.