As the SEC staff picks up the pace of cyber investigations, Chair Gensler continues the push to beef up the Enforcement Division’s already meaty toolkit.
TAKEAWAYS
- The SEC has nearly doubled the size of its Crypto Assets and Cyber Unit and has aggressively pursued cyber-related enforcement actions against public companies and regulated entities.
- In a few months the SEC will finalize new rules governing firms’ cybersecurity obligations, ushering in an unprecedented wave of oversight.
- Companies must proactively prepare for changes to the cyber-regulatory regime by assessing the adequacy of their security protocols, disclosure controls and procedures, and disclosures to investors regarding cyber matters.
By Brian E. Finch, David Oliwenstein, Sarah M. Madigan
Feb 2, 2023
Pillsbury Winthrop Shaw Pittman LLP