Popular, Data Protection, Broker-Dealer

New SEC Cybersecurity Compliance Deadlines are Coming: What 5 Things Should Covered Institutions Do to Prepare?

Fisher Phillips on 6/30/2025

The SEC’s amended Regulation S-P, adopted last year, will soon enhance data privacy protections for broker-dealers, investment companies, registered investment advisors, and transfer agents. The updated rule requires these...more

AI Legal News Summer Roundup: Edition 3

White & Case LLP on 8/10/2023

Welcome to the third edition of our AI Legal News Summer Roundup! After five class actions were filed between June 28 and July 11 (as reported on in our first edition of this series), on July 21, another class action lawsuit...more

SEC Stirs Its Pot of Cybersecurity Preparedness and Response Proposals

Carlton Fields on 6/14/2023

The SEC remains laser-focused on cybersecurity, with the agency recently reopening the comment period on a sweeping rule for investment advisers and investment companies. In addition, the SEC issued proposed enhancements to...more

SEC Issues Multiple Cybersecurity Rule Proposals

Baker Donelson on 3/29/2023

The Securities and Exchange Commission (SEC) continued its focus on cybersecurity regulations this month by announcing three new proposed rules and re-opening the comment period on an additional proposed rule from last year....more

SEC Proposes Data Breach Notification and Incident Response Requirements

Herbert Smith Freehills Kramer on 3/22/2023

On March 15, 2023, the Securities and Exchange Commission (SEC) proposed three rule changes that demonstrate its continued focus on cybersecurity. One of these proposals, and the only one to be unanimously approved (the...more

Twelve Hours to Get It Right: The SEC Intensifies Its Focus on Cybersecurity

Pillsbury Winthrop Shaw Pittman LLP on 3/30/2022

The SEC’s recent enforcement actions, public statements and proposed rulemaking indicate that cybersecurity will be an area of heightened focus for the Gensler Commission. New proposed rules would require public companies...more

SEC Proposes Substantial New Cybersecurity Requirements for Investment Advisers and Companies

Holland & Knight LLP on 2/24/2022

Following U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler's recent speech directing the agency to expand cybersecurity requirements on regulated entities, the SEC on Feb. 9, 2022, voted to propose new...more

US Securities and Exchange Commission Increases Focus on Cybersecurity

Mayer Brown Free Writings + Perspectives on 10/15/2021

This past summer’s string of cyber enforcement actions signals that cybersecurity has become a top priority for the US Securities and Exchange Commission (“SEC”). This focus is consistent with the SEC’s Division of...more

Privacy Report: Senators Introduce Bipartisan Bill to Update Children’s Online Privacy Rules

ArentFox Schiff on 6/9/2021

The legislation updates the Children’s Online Privacy Protection Act (COPPA) by prohibiting internet companies from collecting personal information from anyone 13- to 15-years old without the user’s consent Senators...more

FINRA Reminds Broker-Dealers of their Obligations to Safeguard Customer Information and to Build Controls Designed to Protect...

BCLP on 5/27/2021

Key Takeaways: ..According to FINRA, the number of reported instances involving broker-dealer fraudulent account takeovers (ATO) and related theft is on the rise. ..As set forth in recently released FINRA Regulatory...more

SEC Issues New Risk Alert on “Credential Stuffing” Attacks

Faegre Drinker Biddle & Reath LLP on 9/18/2020

On September 15, 2020, the SEC’s Office of Compliance Inspections and Examinations (OCIE) issued a Risk Alert highlighting the recent uptick in “credential stuffing” cyber-attacks against SEC-registered investment advisors...more

SEC Office of Compliance Inspections and Examinations Issues COVID-19 Risk Alert to Broker-Dealers and Investment Advisers

Foley Hoag LLP on 9/16/2020

On August 12, 2020, the SEC Office of Compliance Inspections and Examinations (OCIE) published a Risk Alert that identifies potential issues related to the COVID-19 pandemic for SEC-registered investment advisers and...more

Private Equity and Cybersecurity: A Guide to Preparing for and Responding to a Breach

Proskauer - The Capital Commitment on 9/16/2020

A cyber breach can have serious legal, financial, and reputational consequences for a fund sponsor, as described in our previous post. As such, cybersecurity threats must be treated as business risks, not just a potential IT...more

SEC Risk Alert Highlights on COVID-19-Related Compliance Risks and Considerations for Investment Advisers and Broker-Dealers

Akin Gump Strauss Hauer & Feld LLP on 8/21/2020

- The OCIE of the SEC highlights that responses to COVID-19 present important regulatory and compliance issues for SEC registrants, including “heightened risks of misconduct” tied to recent market volatility. - The Risk...more

SEC Examiners Release Cyber Observations: What You Need To Know

Bracewell LLP on 2/6/2020

On January 27, 2020, the SEC’s Office of Compliance Inspections and Examinations (OCIE) announced its most recent Cybersecurity and Resiliency Observations. This report highlights specific practices that have been, and can be...more

On Cybersecurity, Grab the Low-Hanging Fruit

Carlton Fields on 7/19/2019

SEC Tells Firms to Stop Missing the Basics on Cybersecurity - The SEC’s Office of Compliance Inspections and Examinations (OCIE) reported in a recent Risk Alert that many investment advisers and broker-dealers are failing to...more

Cloud Storage and Use of Vendors for Records Management Flagged by OCIE in Alert

Kilpatrick on 5/30/2019

Regulations regarding privacy, cybersecurity and the use of technology seem to be in constant flux. Compliance consultants and vendors do their best to stay on top of them, but ultimately neither are regulated by the SEC,...more

U.S. Securities and Exchange Commission Issues Risk Alert Regarding Safeguarding Customer Records and Information Stored on...

Faegre Drinker Biddle & Reath LLP on 5/29/2019

On May 23, 2019, the United States Securities and Exchange Commission (“SEC”)’s Office of Compliance Inspections and Examinations (“OCIE”) issued a Risk Alert entitled “Safeguarding Customer Records and Information in Network...more

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