cyber sec graphicOn January 11, 2016, the staff of the Office of Compliance Inspections and Examinations (OCIE) of the Securities and Exchange Commission (SEC) released its annual announcement on examination priorities for the coming calendar year. While the announcement contains broad and general descriptions of areas in which the staff intends to focus, there are several key points to which advisers to hedge funds, private equity funds and other private funds should pay close attention in regard to cybersecurity.

The staff indicated that it will expand its focus in the area of cybersecurity to include the testing and assessments of advisers’ implementation of procedures and controls. Having devoted a significant amount of attention in the past year to information gathering and risk identification in the area of cybersecurity, OCIE also said that examiners would “advance” in 2016 the second round of cybersecurity exams launched by the agency last September by including testing and assessments of firms’ implementation of procedures and controls.

Given the evolving nature of cyber threats, security preparedness and planning requires firms’ ongoing attention. ACE IT Solutions can help firms prepare for SEC exams. ACE IT Solutions’ Security Services, offered in partnership with IBM, provide a simple and cost-effective way to limit potential threats 24×7. Through our partnership with IBM, ACE IT Solutions leverages one of the world’s largest collections of security information to combine advanced analytic capabilities into cloud-based security services that can be mixed and matched according to each business’ specific needs.

Contact us at 646.558.6358 or to schedule a complimentary cybersecurity assessment. We can help you get the most out of your cybersecurity budget.

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