> as a financial institution you simply cannot have your IT system incompliant This just isn’t true, or rather “compliance” tends to be quite fuzzy. Regulator

> as a financial institution you simply cannot have your IT system incompliant This just isn’t true, or rather “compliance” tends to be quite fuzzy. Regulators generally expect you follow recommendations from places like NIST. But it’s not a hard requirement, you just need to explain why deviating is better. Unfortunately most fincial institutions trip up at the “explain why it’s better” bit. Either because they aren’t competent enough, or (more likely) can’t be bothered.