October 22, 2018

SEC Charges Firm With Deficient Cybersecurity Procedures

On September 26, 2018, the SEC announced that it settled charges against a broker-dealer/investment adviser related to its failures to adopt and implement adequate cybersecurity policies and procedures. The failures were identified in connection with a cyber intrusion that compromised personal information of thousands of customers. The firm agreed to be censured and pay a $1 million penalty.

Continue reading...

August 18, 2017

The SEC’s Webpage entitled “Cybersecurity, the SEC and You”

The SEC has created a landing page for “Cybersecurity” on its website. This webpage provides a general overview of the steps that the SEC is taking to address cyber threats. Importantly, the webpage provides resources concerning the applicable regulations that address cybersecurity practices for the following respective market participants: Investors Issuers / Public Companies Investment Advisers / Investment Companies Brokers and Dealers Self-Regulatory Organizations

Continue reading...