SEC Tells Investment Advisers and Private Equity Firms to Prepare for Cyber Attacks

As part of its “Cybersecurity Initiative,” the SEC’s Office of Compliance Inspections and Examinations (“OCIE”) has sent extensive cybersecurity document requests to more than 50 registered broker-dealers and registered investment advisers.  Furthermore, the OCIE stated that its examinations are intended to provide to others in the industry “questions and tools they can use to assess their firms’ level of preparedness,” thereby sending the message to all registered firms that they should be taking steps now to assess and upgrade their data security infrastructure, policies, and procedures.

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