The SEC’s Cybersecurity Enforcement Action: Rulemaking by Enforcement
Posted on Oct 1, 2015 in Uncategorized | Comments Off on The SEC’s Cybersecurity Enforcement Action: Rulemaking by Enforcement
The Securities and Exchange Commission recently brought an enforcement action against an investment adviser that, like a large number of companies, was the victim of a cyberattack. Although the SEC did not allege that any of the firm’s clients suffered harm, the Commission nonetheless sanctioned the firm for its allegedly unreasonable policies and procedures. In their article for...
SEC Charges Investment Adviser with Failure to Adopt Required Cybersecurity Policies Prior to Breach
Posted on Sep 25, 2015 in Uncategorized | Comments Off on SEC Charges Investment Adviser with Failure to Adopt Required Cybersecurity Policies Prior to Breach
On September 22, the Securities and Exchange Commission (SEC) announced that it had entered into a settlement order with R.T. Jones Capital Equities Management, Inc., a St. Louis-based SEC registered investment adviser, for failure to establish required cybersecurity policies and procedures in advance of a breach. As a result of the firm’s failure to adopt reasonable cybersecurity...
They’re Baaaack . . . SECs Office of Compliance Inspections and Examinations Releases New Cybersecurity Risk Alert
Posted on Sep 16, 2015 in Financial Services | Comments Off on They’re Baaaack . . . SECs Office of Compliance Inspections and Examinations Releases New Cybersecurity Risk Alert
Yesterday, the U.S. Securities and Exchange Commission (SEC) Office of Compliance Inspections and Examinations (OCIE) released a Risk Alert describing OCIE’s 2015 cybersecurity exam initiative. [link to www.sec.gov/ocie/announcement/ocie-2015-cybersecurity-examination-initiative.pdf]. As the Risk Alert notes, OCIE’s new cybersecurity initiative builds on information OCIE learned from...
Cybersecurity for Securities Firms: Batten Down the Hatches and Get Your Shark Cage Ready Because “Only the Paranoid Survive.”
Posted on Jul 7, 2015 in Uncategorized | Comments Off on Cybersecurity for Securities Firms: Batten Down the Hatches and Get Your Shark Cage Ready Because “Only the Paranoid Survive.”
Just when you thought it was safe to go back in the water and have a quiet summer, U.S. Securities and Exchange Commission Commissioner Luis Aguilar hoisted the warning flags. At the end of June, he gave a wide-ranging speech addressing a number of cyber-related problems facing the securities industry. In their article for Law360, “Cybersecurity for Brokers: ‘Only the...
Sutherland Partner Addresses Cybersecurity Concerns in TheStreet
Posted on Jun 16, 2015 in Financial Services, Government | Comments Off on Sutherland Partner Addresses Cybersecurity Concerns in TheStreet
Sutherland Partner Mary Jane Wilson-Bilik was recently quoted in TheStreet article “What Banks and the IRS Should Do to Prevent a Cyber 9/11” authored by Marguerite Arnold. In this article, Mary Jane addresses cybersecurity threats and the potential impact a large-scale cyberattack may have on critical infrastructure.
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