Posts in Cyberattack.
Posted in Cyberattack, Privacy

Over the last couple years, the SEC’s cybersecurity bark has been worse than its bite.  Its Office of Compliance, Inspections, and Examinations issued examination priorities in 2014.  Commissioner Aguilar warned public company boards that they had better get smart about the topic a few months later.  The results of OCIE’s cybersecurity exam sweep were released in March of this year.  And the Investment Management Division said words, not many words, about investment advisers’ responsibilities in this area in July.

Alleged Facts

What it hasn’t done recently is sue somebody ... Read More 

Ed. Note: This entry is cross posted from Cady Bar the Door, David Smyth's blog offering Insight & Commentary on SEC Enforcement Actions and White Collar Crime.

Lots of agencies and organizations want to boss you around about cybersecurity.  In April, the SEC and the Justice Department published more directions on the issue.  We’ll cover the very brief guidance issued by the SEC’s Division of Investment Management first, and then turn to DOJ in a later post.

First, as with everyone else, the IM Division thinks cybersecurity is very, very important for investment companies and ... Read More 

You have probably heard about the recent data breach at Sony; after all, it’s not often that Kim Jong Un and Angelina Jolie are mentioned as part of the same story. Unlike other recent high profile hacks, the recent Sony hack appears to be somewhat different in character: the hackers appear to care most about using the information stolen from Sony to bring shame and scorn to the company, rather than for their own pecuniary gain.

And the story appears to continue down the proverbial rabbit hole, with reports of a tongue-and-cheek offer of investigative cooperation from the North Koreans ... Read More 

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