In another move related to strengthening its cybersecurity enforcement efforts, the SEC announced that it will nearly double the size of its cyber enforcement unit.
On May 3, 2022, the SEC announced that it will allocate 20 additional positions to the newly named Crypto Assets and Cyber Unit (formerly known as the Cyber Unit) in the Division of Enforcement, bringing the unit to 50 dedicated positions. In addition to carrying out its crypto mandate, the unit will investigate and bring actions against SEC registrants and public companies on critical cybersecurity issues, building on its record to date of cases focused on alleged failures to maintain adequate cybersecurity controls and to appropriately disclose cyber-related risks and incidents.
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