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Getting ready for SEC cyber-security tests

Eldon Sprickerhoff | July 18, 2017

Governments will eventually regulate industry to solve ongoing problems, and the investment industry is no exception. As cyber-risks increasingly threaten corporate finance, the Securities and Exchange Commission is tightening controls to ensure that registered investment advisers and funds comply. Here’s what’s happening and what you must do about it.

The SEC began looking at cyber-security in the financial sector as early as 2011, when it published a guidance document on the disclosure of cyber-security risks for corporate finance. This was an opinion, though, rather than an enforceable rule.

It ramped up its coverage of cyber-security risk in March 2014, holding a Cyber-security Round Table with market participants, and followed this up by announcing cyber-security examinations for registered investment advisers a month later through its Office of Compliance Inspections and...

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