The Intercontinental Exchange (ICE), which operates the world's largest network of exchanges and clearing houses, has been fined $10 million by the US Securities and Exchange Commission (SEC). The penalty comes after ICE failed to promptly report a cyber intrusion discovered in April 2021. The SEC alleges that ICE identified the threat but did not inform legal and compliance officials at their subsidiaries, including the New York Stock Exchange, for several days. SEC Commissioners Hester Peirce and Mark Uyeda have criticized the fine as an "overreaction" to a "minimal incident."