Good morning. Thank you, Bob [Zukis]. It is a pleasure to be here today, and I thank the Digital Directors Network for hosting this discussion about cybersecurity. This topic is so essential for the safety and resiliency of our capital markets.

My special thanks to former Commissioner Luis Aguilar for initially inviting me to speak to you today. Commissioner Aguilar had a distinguished career in public service. As the eighth longest-serving Commissioner in SEC history, he was one of only three Commissioners to have been nominated by two U.S. Presidents from different parties. A remarkable accomplishment.

It is exciting to speak to an audience of cybersecurity professionals and directors like yourselves, who share a deep commitment to robust policies and practices in cyber governance. Since 2017, the Digital Directors Network has served as a resource to the wide variety of members it represents – that is, those responsible for designing, implementing, and testing cyber governance policies and procedures. Over the next two days, you will hear a range of views on how best to address the complex and rapidly evolving cyber challenges that all market participants are confronting in our capital markets today.

At the SEC, we are at the forefront of addressing these challenges. In the face of rapid technological change and increased cyber threats at home and abroad, the Commission is taking action to require that market participants strengthen their cybersecurity practices.

Consistent with our congressional mandates, one of our key aims is to protect the investing public against potentially significant financial and reputational costs from cyberattacks and data breaches. Because once victims’ identities are stolen or their personal information is compromised, the damage can be irreparable and irreversible.