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News/Cyber & AI/SEC Chair: “We Want and Need” IT Modernization Fund White House Wants to Eliminate
News·Cyber & AI Brief

SEC Chair: “We Want and Need” IT Modernization Fund White House Wants to Eliminate

SEC chair Jay Clayton says that the newly-disclosed data breach they experienced last year indicates that the agency needs more money to update its technology, but both Republican legislators and the administration have proposed to eliminate a $50 million reserve fund that is part of SEC's IT spending plans for the coming years.

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