Evidence from credible sources supports the statement as accurate. Learn more in Methodology.
FSOC and member agencies implement expanded cyber information sharing, joint monitoring, and scenario-based exercises, and regulated firms act to manage cyber risks from third‑party service providers as emphasized by the Council.
The Treasury statement by Secretary Scott Bessent (Feb. 5, 2026) explicitly says FSOC “is supporting expanded information sharing, joint monitoring, and scenario-based exercises” and that it “is emphasizing the need for regulated firms to manage cyber risks tied to third‑party service providers.” The FSOC 2025 Annual Report (published by Treasury) likewise recommends expanding joint monitoring and information sharing among regulators and industry and endorses scenario‑driven tabletop exercises to bolster preparedness for cyber incidents and notes attention to third‑party cyber risks. Verdict: True — primary Treasury materials directly support the claim that FSOC is backing expanded information sharing, joint monitoring, scenario‑based exercises, and third‑party cyber risk management by regulated firms.