Intercontinental Exchange Agrees To Pay $10 Million Fine Over Cybersecurity Breach Allegations

According to Odaily, the U.S. Securities and Exchange Commission (SEC) has announced that the Intercontinental Exchange (ICE) has agreed to pay a fine of $10 million. This is in response to allegations that it failed to promptly report cyber intrusions to the SEC, affecting nine wholly-owned subsidiaries, including the New York Stock Exchange. The fine is intended to resolve the charges against ICE, which were brought about due to their failure to notify the SEC about the cybersecurity breaches in a timely manner. The SEC's regulations require such entities to report any cyber intrusions promptly to ensure the protection of investors and the integrity of the markets. The Intercontinental Exchange, a major player in the financial markets, owns several exchanges and clearing houses around the world. The alleged failure to report the cyber intrusions could have potentially put the financial information of numerous investors at risk. The fine is seen as a significant step in enforcing the SEC's regulations and ensuring the security of the financial markets.