It’s no secret that cybersecurity has become one of the hottest topics in the compliance and regulation industry. With SEC releasing new proposed rulings and cyberattacks only increasing, firms must prioritize their cyberhealth in order to mitigate risk and protect their interests and well as the interests of their clients.
In a recent webinar, we asked attendees which of the SEC’s expected agenda items was their top priority. And the results are in:
- Cybersecurity – 55%
- Cryptocurrency – 10%
- ESG – 15%
- Insider/Shadow Trading – 14%
- MNPI Data – 1%
- Other – 5%
How can firms ward off the increasing threat of cyber-related risk?
“Cybersecurity is always on the SEC’s top priority list. And sometimes it becomes an even higher level of priority than before, such as this year. Not only are we facing newly proposed cybersecurity rules…but it translates to everyday life.” – Kevin Turton, NRS, a ComplySci company.
To break it down, according to the SEC’s newest cybersecurity rule proposal, they would:
- Require advisers and funds to adopt and implement written policies and procedures that are reasonably designed to address cybersecurity risks
- Require advisers to report significant cybersecurity incidents to the Commission on proposed Form ADV-C
- Enhance adviser and fund disclosures related to cybersecurity risks and incidents
- Require advisers and funds to maintain, make, and retain certain cybersecurity-related books and records
Today’s landscape is a maelstrom of potential risk, cyber and otherwise. Ensuring your firm is equipped to mitigate – and react to – potential challenges and threats is key to safeguarding your integrating and your firm’s best interest.
The ComplySci® family of companies – including the RIA in a Box®, National Regulatory Services (NRS®), a ComplySci company, illumis®, and Itegria® – are dedicated to equipping clients with the technology and expertise necessary to navigate the evolving compliance ecosystem.
Ready to see how we can help you mitigate risk and achieve compliance success? Schedule a demo today!
In a recent webinar, we asked attendees which of the SEC’s expected agenda items was their top priority. And the results are in:
- Cybersecurity – 55%
- Cryptocurrency – 10%
- ESG – 15%
- Insider/Shadow Trading – 14%
- MNPI Data – 1%
- Other – 5%
How can firms ward off the increasing threat of cyber-related risk?
To break it down, according to the SEC’s newest cybersecurity rule proposal, they would:
- Require advisers and funds to adopt and implement written policies and procedures that are reasonably designed to address cybersecurity risks
- Require advisers to report significant cybersecurity incidents to the Commission on proposed Form ADV-C
- Enhance adviser and fund disclosures related to cybersecurity risks and incidents
- Require advisers and funds to maintain, make, and retain certain cybersecurity-related books and records
The ComplySci family of companies – including RIA in a Box, NRS, a ComplySci company, illumis, and Itegria – are dedicated to equipping clients with the technology and expertise necessary to navigate the evolving compliance ecosystem.
Ready to see how we can help you mitigate risk and achieve compliance success? Schedule a demo today!