Financial regulators were chided for making conflicting cybersecurity demands by two industry leaders at a Congressional hearing Tuesday.

Securities Industries and Financial Markets Association President and CEO Ken Bentsen and Financial Services Sector Coordinating Council Executive Director Greg Garcia said there should be harmonization across regulatory agencies.

Garcia, whose group acts as a homeland security consortium for financial services, said his members have seen examples of agencies each asking their own set of cybersecurity examination questions.

“As a sector, we would urge more uniformity among the regulatory agencies in their examination procedures and in the range of questions they ask,” Garcia said.

Bentsen warned brokerages and asset management companies of all sizes often think their current insurance covers them from cyber-attack damages, but many times it doesn’t.

He urged firms to double check with their carriers to see if they need specific cybersecurity policies.

In testimony at a House Financial Services Committee session, Bentsen said there has been a marked improvement in cybersecurity information sharing between the financial sector and law enforcement, the Department of the Treasury and the Department of Homeland Security.

He added security-clearance approval requests have been speeded up.

At the session, Financial Services Forum President and CEO Rob Nichols argued the forced shrinkage of firms chastised as “too big to fail” would increase cybersecurity dangers for the entire financial system because of the high degree of interconnections.

Nichols said breaking up the firms would lead to the loss of top cybersecurity talent and deterioration of the cyber-protection systems they developed.