On April 15, 2014, the SEC’s Office of Compliance Inspections and Examinations announced that it would be conducting examinations of more than 50 registered broker-dealers and registered investment advisers focused on cybersecurity governance and risk. Until yesterday, there has been little or no information from the SEC concerning the results of those examinations. In a Risk Alert published yesterday, however, OCIE provided summary observations from the examinations conducted under the April 2014 Cybersecurity Examination Initiative.
