Regulatory Readiness
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Cybersecurity News: What the TSAs New Railway Cybersecurity Mandates Mean
As looming cybersecurity threats continue throughout the nation, the need for federal bodies and private industries to heighten cybersecurity regulations has never been greater. In preparing certain sectors for potential breaches, the federal government hopes that they can be more prepared and efficient in dealing with cyber-attacks. Recently, the Transportation Security Administration (TSA) has imposed…
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As cyber criminals evolve, how can hedge funds respond?
Originally Published in Alternatives Watch. Just a month after the SolarWinds attack, the Superintendent of Financial Services for the N.Y. State Department of Financial Services noted that a cyber-attack could trigger the next great financial crisis. While this idea may seem far-fetched or sound like the plot of a Black Mirror episode, the truth is that…
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Market Spotlight: Enhancing Cybersecurity for Hedge Funds
There has been increased focus on cybersecurity for hedge funds within the last several years. This has only been exacerbated by the Coronavirus Pandemic, which has seen the need for industries worldwide to focus on cybersecurity procedures during an unprecedented transfer to online business. This need has caused regulators to take further interest in cybersecurity…
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Cybersecurity News: The White House’s New Emphasis on Cybersecurity Jobs
Throughout the global pandemic, multiple cybersecurity breaches have made headlines for the brazen and large-scale nature of these attacks. Following these events, cybersecurity has been brought further into public light. This is certainly true of federal bodies, which have indicated a need for the heightening of cybersecurity procedures throughout the United States. Ransomware has also…
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Market Spotlight: The Necessity of Cybersecurity for Venture Capital Firms
Investment firms of all types are at a risk for data breaches. In this modern era, firms are dealing with personal and financial information often at a digital level. Because of this, the risk for potential cyber-attacks increases, and the manner with which malicious parties attack these firms are in constant flux. Venture capital firms…
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Service Spotlight: The Rise in Data Breaches and Data Privacy
Throughout the global COVID-19 pandemic, there have been an increasing number of cyber-attacks and breaches occurring across numerous industries. These attacks may in part be due to the need for industries to adapt to an online landscape, but there have also been prevailing advances to the technologies that malicious parties use to conduct their attacks.…
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The SEC Has Announced Charges Against Deficient Cybersecurity Procedures
On this day, August 30, the Securities and Exchange Commission (SEC) has sanctioned multiple firms in three actions for failures in both cybersecurity policies and procedures. These failures resulted in large data breaches, causing thousands of email account takeovers for clients and customers. These sanctioned firms have agreed to settle the charges. In one instance,…
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Service Spotlight: Regulatory Readiness
Financial regulators often hold high standards to the cybersecurity practices of hedge funds and registered investment advisors. In order for firms to meet regulatory requirements, effective and well-maintained cybersecurity programs are necessary. Often, the goal is not only to shore up cybersecurity within your firm, but to bring your firm into the fold of countless…
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SEC Division of Examinations Announces 2021 Examination Priorities
This month, the Securities and Exchange Commission’s Division of Examinations announced its 2021 examination priorities. The examination priorities are published each year, offering insights into those areas that the Division believes could present risks to investors and the U.S. capital markets. The Division will focus on climate-related risks, as well as conflicts of interest for…
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Cybersecurity: Ransomware Alert
On July 10, 2020, The SEC’s Office of Compliance Inspections and Examinations (OCIE) released an alert on the growth of the ransomware threat for financial services market participants and its commitment to providing advisory to assist these firms in taking proactive measures to protect their businesses. Phishing attacks and other social engineering campaigns are being…
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CYBERSECURITY NEWS: SEC Observations
SEC OCIE Publishes Observations on Cybersecurity and Resiliency Practices On Monday, January 27th, 2020, the U.S. Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (OCIE) issued examination observations related to cybersecurity and operational resiliency practices. The observations focus on the following areas: Governance and Risk Management Access Rights and Controls Data Loss Prevention…
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Cybersecurity News: SEC & CFTC Update
Cybersecurity News Alert 2020 SEC EXAMINATION PRIORITIES On Tuesday, January 7th, 2020, the U.S. Securities and Exchange Commission (SEC) released the examination priorities for 2020. The SEC has shifted their examination priorities from years past in an effort to adapt to emerging risks, but cybersecurity continues to remain a top priority for the SEC. The…
