Doug Cornelius on compliance for private equity real estate
Now that the Securities and Exchange Commission has some first-hand experience with cybersecurity and getting hacked, it has launched a new initiatives to address cyber-based threats. There is new Cyber Unit originating in the enforcement division. Robert A. Cohen will be Chief of the Cyber Unit, stepping away from being Co-Chief of the Market Abuse Unit. … Read more »
Cybersecurity is hard. It’s nearly impossible to stop an attack. If someone really wants in, they can continue to attack and attack until they find a gap. It’s hard to know that you have been breached until well after the breach. It may be just as hard to figure out what was accessed and what … Read more »
The Securities and Exchange Commission’s Office of Compliance Inspections and Examinations issued a new Risk Alert this week on cybersecurity. The risk alert summaries observations from their phase 2 cybersecurity examinations conducted in 2015 and 2016. In phase 2, OCIE examined 75 firms, including broker-dealers, investment advisers, and registered funds. The examinations focused on written policies and … Read more »
There was a massive cyberattack over the weekend that has afflicted 200,000 computers in more than 150 countries. The malware locks users out of their computers and threatens to destroy data if a ransom is not paid. It turns out that the the malicious software used in the cyberattack was originally been developed by the … Read more »
Cybersecurity has become an increasing focus of financial regulators. Insurance companies are stepping up to help deal with the risk of cyber attacks. Bruce Carton’s CyberSecurity Docket hosted a great webinar on cyber insurance. These are some of the highlights. John Reed Stark is President of John Reed Stark Consulting LLC, a data breach incident … Read more »
The Securities and Exchange Commission has off-an-on expressed concerns about cybersecurity for broker-dealers and registered investment advisers. Now it’s officially concerned. The SEC’s Office of Compliance Inspections and Examinations has announced a new cybersecurity initiative. The Risk Alert follows the announcement of a technology element in OCIE’s 2014 examination priorities and the SEC’s March 26, 2014 … Read more »