SEC Wants Cybersecurity Info From Dozens Of Financial Industry Companies
April 28, 2014
The SEC announced it will examine cybersecurity preparedness at dozens of broker-dealers and investment advisors. The announcement, in the form of a “Risk Alert” from the SEC’s Office of Compliance Inspections and Examinations (OCIE), “highlights the importance of cybersecurity generally, not only as an issue for companies, but also for investors and the economy as a whole,” say attorneys from WilmerHale. The alert included a version of the questionnaire that will be sent to the target companies. It asks for information about a wide range of cybersecurity issues, including the kinds of risks that have been identified and steps that have been taken to address them. It also asks for a list of all cybersecurity incidents that occurred since January 2013, and whether and how they were reported.
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