News & Analysis as of October 18, 2024

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Follow this channel for advisories on one of the biggest threats to businesses today. Read a morning brief of fresh guidance and commentary by leading lawyers on security, privacy, risk management, global regulations, data protection, leaks, hacking, cyber insurance, compliance, HIPAA, and every other aspect of cybersecurity of import to corporate readers right now. less -

SEC Imposes New Cybersecurity Requirements on BrokerDealers, Investment Companies, Registered Investment Advisers, and Transfer...

Latham & Watkins LLP on 8/9/2024

Covered institutions will need to review their cybersecurity and incident response policies and procedures ahead of the applicable compliance deadline. The Securities and Exchange Commission (SEC) recently adopted...more

SEC Adopts Significant Cybersecurity Amendments to Regulation S-P

Kramer Levin Naftalis & Frankel LLP on 5/23/2024

On May 16, 2024, the Securities and Exchange Commission (SEC) adopted final amendments to Regulation S-P, one year after issuing the proposed amendments (discussed here). Regulation S-P is a set of privacy rules that govern...more

SEC Rulemaking 2023 - An Overview

Harris Beach PLLC on 12/20/2023

In 2023, the Securities and Exchange Commission (SEC) continued its trend of recent years of robust and significant rulemaking that affects the range of players in the securities industry — public companies, broker-dealers,...more

Investment Management Update - November 2023

Skadden, Arps, Slate, Meagher & Flom LLP on 11/16/2023

...SEC Adopts Amendments to Fund Names Rule - On September 20, 2023, the U.S. Securities and Exchange Commission (SEC) adopted amendments to Rule 35d-1 under the Investment Company Act of 1940 (the Fund Names Rule) as well...more

The SEC Publishes 2024 Examination Priorities Ahead of Schedule, Previewing Key Areas of Focus for Registered Entities

K&L Gates LLP on 11/3/2023

On 16 October 2023, the Division of Examinations (Division) of the US Securities and Exchange Commission (SEC) released its examination priorities for the 2024 fiscal year (the Report). The Division released this Report...more

Top 5 SEC Developments for July 2023

Morrison & Foerster LLP on 8/15/2023

In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important SEC enforcement developments from the past month, with links to primary resources. This...more

AI Legal News Summer Roundup: Edition 3

White & Case LLP on 8/10/2023

Welcome to the third edition of our AI Legal News Summer Roundup! After five class actions were filed between June 28 and July 11 (as reported on in our first edition of this series), on July 21, another class action lawsuit...more

SEC Stirs Its Pot of Cybersecurity Preparedness and Response Proposals

Carlton Fields on 6/14/2023

The SEC remains laser-focused on cybersecurity, with the agency recently reopening the comment period on a sweeping rule for investment advisers and investment companies. In addition, the SEC issued proposed enhancements to...more

Artificial Intelligence: Legal and Regulatory Issues for Financial Institutions

Dechert LLP on 4/27/2023

Over the last six months, artificial intelligence (AI) has captured the public imagination in a way it never has before. A new generation of AI-powered language models make use of a deep learning architecture known as a...more

SEC Proposed New Rule and Extensive Updates to Existing Rules on Cybersecurity

Patterson Belknap Webb & Tyler LLP on 4/17/2023

On March 15, 2023, the Securities and Exchange Commission (“SEC”) proposed a new rule concerning cybersecurity risk management as well as updates to Regulations S-P and SCI (Systems Compliance Integrity).[1] With these...more

Investment Management Update - April 2023

Skadden, Arps, Slate, Meagher & Flom LLP on 4/14/2023

SEC Rules and Amendments - Liquidity Rule Amendments: Interval Funds to the Rescue? On November 2, 2022, the Securities and Exchange Commission (SEC) voted to propose significant amendments to Rule 22e-4 under the...more

The SEC Expands Focus on Cybersecurity Risk to Include Registered Advisers, Broker‑Dealers, and other Market Participants

Morrison & Foerster LLP on 4/14/2023

Last month, the SEC took a big step toward strengthening the cybersecurity of financial systems by proposing regulations that, taken together, will require registered investments advisers, broker‑dealers, and all national...more

SEC Proposes Three New Cybersecurity Rules To Enhance Consumer Protection And Market Security

Pietragallo Gordon Alfano Bosick & Raspanti,... on 4/12/2023

On March 15, 2023, the United States Securities and Exchange Commission (SEC) took a major step towards strengthening cybersecurity in the financial sector by proposing three new rules. These rules aim to improve privacy,...more

SEC Proposes New Cybersecurity Rules for Market Entities

Vinson & Elkins LLP on 4/11/2023

On March 15, 2023, the Securities Exchange Commission (“SEC”) issued three additional proposed rules that would expand the reach of the agency’s current cybersecurity guidance to new entities and augment existing...more

SEC Issues Multiple Cybersecurity Rule Proposals

Baker Donelson on 3/29/2023

The Securities and Exchange Commission (SEC) continued its focus on cybersecurity regulations this month by announcing three new proposed rules and re-opening the comment period on an additional proposed rule from last year....more

SEC Proposes Changes to Reg S-P to Enhance Protection of Customer Information

Goodwin on 3/24/2023

In this Weekly Roundup Issue. The Securities and Exchange Commission (SEC) proposed changes to Reg S-P to enhance protection of customer information, and reopened the comment period on proposed cybersecurity rules and...more

SEC Proposes Data Breach Notification and Incident Response Requirements

Kramer Levin Naftalis & Frankel LLP on 3/22/2023

On March 15, 2023, the Securities and Exchange Commission (SEC) proposed three rule changes that demonstrate its continued focus on cybersecurity. One of these proposals, and the only one to be unanimously approved (the...more

SEC Releases 2023 Examination Priorities for Registered Investment Advisers and Broker-Dealers

Lowenstein Sandler LLP on 2/17/2023

On February 7, 2023, the U.S. Securities and Exchange Commission (“SEC”) Division of Examinations (the “Division”) released its annual Priorities Report1 for upcoming examinations of registered investment advisers...more

FINRA Facts and Trends - September 2022

Bracewell LLP on 10/3/2022

Welcome to the latest issue of Bracewell’s FINRA Facts and Trends, a monthly newsletter devoted to condensing and digesting recent FINRA developments in the areas of enforcement, regulation and dispute resolution. This...more

Twelve Hours to Get It Right: The SEC Intensifies Its Focus on Cybersecurity

Pillsbury Winthrop Shaw Pittman LLP on 3/30/2022

The SEC’s recent enforcement actions, public statements and proposed rulemaking indicate that cybersecurity will be an area of heightened focus for the Gensler Commission. New proposed rules would require public companies...more

SEC Proposes New Cybersecurity Risk Management Regime for Registered Funds and Advisers

Perkins Coie on 3/2/2022

In today’s asset management landscape, cybersecurity threats are omnipresent, and with constantly evolving tools of attack, actual breaches have become increasingly prevalent. As the complexity, scope, and frequency of cyber...more

SEC Proposes Substantial New Cybersecurity Requirements for Investment Advisers and Companies

Holland & Knight LLP on 2/24/2022

Following U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler's recent speech directing the agency to expand cybersecurity requirements on regulated entities, the SEC on Feb. 9, 2022, voted to propose new...more

SEC Proposes New Cybersecurity Risk Management Rules for Registered Investment Advisers and Funds

Faegre Drinker Biddle & Reath LLP on 2/16/2022

On Wednesday, the Securities and Exchange Commission announced proposed new cybersecurity risk management rules and amendments for investment advisers and investment companies. The proposed rules are designed to address...more

SEC Focus on Cybersecurity Begins to Take Shape

Goodwin on 2/15/2022

The U.S. Securities and Exchange Commission is implementing a campaign to overhaul the agency’s expectations around cybersecurity and cyber incident reporting for the financial services industry and corporate America...more

SEC Proposes Cybersecurity Risk Management Requirements for Investment Advisers and Registered Funds

Kramer Levin Naftalis & Frankel LLP on 2/14/2022

On Feb. 9, 2022, the Securities and Exchange Commission (SEC or Commission) proposed a suite of new rules and amendments concerning cybersecurity risk management for registered investment advisers (advisers) and registered...more

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