News & Analysis as of

Financial Institutions Securities and Exchange Commission (SEC) Regulation S-P

Royer Cooper Cohen Braunfeld LLC

Tech Moves Fast, the SEC is Trying to Keep Up

On May 16, the Securities and Exchange Commission (“SEC”) announced the adoption of amendments to Regulation S-P, aimed at modernizing and enhancing the rules governing the treatment of consumers’ nonpublic personal...more

Eversheds Sutherland (US) LLP

Dual registrant regulatory roundup - July 2024

Welcome to the Regulatory Roundup. Each month, Eversheds Sutherland Investment Services attorneys review significant regulatory developments (including notable rulemakings and guidance from securities regulators) from the...more

Stark & Stark

Understanding the Enhanced Regulation S-P Requirements

Stark & Stark on

On May 16, 2024, the Securities and Exchange Commission adopted amendments to Regulation S-P, the regulation that governs the treatment of nonpublic personal information about consumers by certain financial institutions....more

Foley & Lardner LLP

SEC Tightens Cybersecurity Requirements with Regulation S-P Amendments

Foley & Lardner LLP on

Share on Twitter Print Share by Email Share Back to top “The basic idea for covered firms is if you’ve got a breach, then you’ve got to notify. That’s good for investors.” Those were among the remarks that U.S. Securities and...more

K&L Gates LLP

SEC Finalizes Amendments to Regulation S-P

K&L Gates LLP on

On 16 May 2024, the Securities and Exchange Commission (SEC) adopted amendments (amendments) to Regulation S-P representing the first major changes to Regulation S-P since its initial adoption in 2000....more

McCarter & English, LLP

SEC Adopts Rule Amendments to Regulation S-P to Safeguard Customer Information and Enhance Cybersecurity Procedures at Financial...

On May 16, 2024, the Securities and Exchange Commission (SEC) adopted amendments to Regulation S-P to “modernize and enhance the rules that govern the treatment of consumers’ nonpublic personal information by certain...more

Paul Hastings LLP

SEC Adopts Amendments To Regulation S-P

Paul Hastings LLP on

On May 15, 2024, the Securities and Exchange Commission (the “SEC”) adopted amendments to Regulation S-P. Originally passed in 2000, Regulation S-P regulates the treatment of non-public personal information of consumers by...more

Baker Donelson

[Webinar] New Privacy and Cybersecurity Regulations: What Financial Institutions Need to Know to Stay Compliant - June 13th, 10:00...

Baker Donelson on

The financial services industry has seen a litany of new data privacy and cybersecurity challenges through the first half of 2024. Financial institutions are facing unprecedented compliance hurdles resulting from the...more

SEC Compliance Consultants, Inc. (SEC³)

Regulatory Roundup for May 2024

SEC DROPS NEW REQUIREMENT FOR INCIDENT RESPONSE PROGRAMS, PROPOSAL FOR RIAS TO ADOPT CIP, SEC EXAMS SHARES MARKETING RULE FAILURES, RIA SLAMMED FOR FAILING TO RETAIN TEXTS, AND SEC WINS ON SHADOW TRADING THEORY - Welcome to...more

Hinckley Allen

Final Amendments to Regulation S-P under Securities Exchange Act of 1934

Hinckley Allen on

On May 15, 2024, the Securities and Exchange Commission (the “SEC”) issued final amendments (the “Amendments”) to Regulation S-P (originally adopted in 2000), which governs the treatment of a customer’s nonpublic personal...more

Davis Wright Tremaine LLP

SEC Adopts Amendments to Regulation S-P That Require Reporting Breaches of "Sensitive Customer Information"

On May 15, the Securities and Exchange Commission adopted amendments to Regulation S-P, which covers broker-dealers, registered investment advisors (RIAs), and investment companies (funds). These entities are now required to...more

Vinson & Elkins LLP

Cyber(in)security: New York Levies Fine for Failure to Implement Written Policies

Vinson & Elkins LLP on

On November 27, 2023, the New York State Department of Financial Services (“DFS”) and First American Title Insurance Company (“First American”) entered into a consent order1 that resolved litigation over First American’s...more

Dechert LLP

SEC Proposes Robust Amendments to Regulation S-P

Dechert LLP on

At an open meeting on March 15, 2023, the U.S. Securities and Exchange Commission voted unanimously to propose rule amendments to Regulation S-P (Proposed Rule) and published an accompanying release (Release). The Proposed...more

Kramer Levin Naftalis & Frankel LLP

OCIE Warns of Increased ‘Credential Stuffing’ Cyberattacks on Investment Advisers, Broker-Dealers

The  Securities and Exchange Commission’s (SEC) Office of Compliance Inspections and Examinations (OCIE) has published a risk alert, warning SEC-registered investment advisers, brokers and dealers about the increasing use of...more

Perkins Coie

SEC’s Increased Cybersecurity Enforcement and How to Reduce Your Risks

Perkins Coie on

The SEC announced last week that an investment adviser had agreed to settle charges that it failed to take required steps to protect against and respond effectively to a cybersecurity breach. The action comes on the heels of...more

BakerHostetler

The SEC OCIE Announces Increased Scrutiny of Broker-Dealers’ and Investment Advisers’ Cybersecurity Programs

BakerHostetler on

On September 15, 2015, the Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (OCIE) issued a National Exam Program Risk Alert (2015 Risk Alert) to provide broker-dealers and investment...more

Katten Muchin Rosenman LLP

Cyber-Attacks: Threats, Regulatory Reaction and Practical Proactive Measures to Help Avoid Risks

I. Cybersecurity; Its Importance and Relevance – How We Got to Where We Are Today - In the past few months, the White House, Home Depot, JP Morgan, Hard Rock Hotels, Tesla, the St. Louis Federal Reserve, the Internal...more

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