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SEC (Securities and Exchange Commission) Examiners to Review Asset Managers Cybersecurity Defenses

As part of OCIE’s routine examinations, the staff intends to scrutinize the policies and procedures that asset managers use to prevent and to detect cyber-attacks. Additionally, the staff will assess whether asset managers are reviewing and enhancing safeguards to protect against security risks. To prepare for such exams, asset managers should review their information technology training programs, analyze whether vendor access to their systems creates potential weaknesses, and review their vendors’ due diligence processes. SEC examiners may also evaluate whether asset managers are properly reporting "material" cyber events to regulators.

Copyright © 2020 Godfrey & Kahn S.C.National Law Review, Volume IV, Number 120


About this Author

Chris Cahlamer Investment Management Attorney

Chris Cahlamer is the team leader of the firm’s Investment Management Practice Group, where he practices in investment management and securities law, focusing on investment companies, investment advisers, regulatory examinations, new product development, SEC compliance and reporting obligations, CCO support, private fund formation and operation, investment company reorganizations, investment advisor mergers and acquisitions, and general corporate and board fiduciary issues.

Chris earned his law degree, summa cum laude, at Marquette University Law School. While there, he...