Municipal Bond Forum
Cyberattacks and muni issuers
Q
I recently read about an increase in cyberattacks against local governments. Is this something to be concerned about?
A
James A. Klotz responds:
There is no question that cyberattacks against municipal entities are becoming increasingly sophisticated and frequent.
Securities regulators, SEC and FINRA, insist that municipal underwriters take steps to disclose all cybersecurity incidents in the official statements of municipal issues, which may or will affect the issuer.
In addition to serving individual investors, we are also underwriters and are therefore cognizant of the increased emphasis on developing a detailed framework for these disclosures and are examined regularly by FINRA in this regard.
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The responses provided in this forum are meant to address specific questions posed by investors about their municipal bonds and to provide market insight for our general audience. Please note, your investments, objectives, results and experience may differ significantly. Our answers and any potential strategies discussed should not be construed as a solicitation to buy nor sell any security or investment product. All investing entails risk.
