risk alert

SEC Releases COVID-19 Compliance Risks and Considerations for Financial Firms

In response to the broad and varied effects of COVID-19, SEC registrants have been faced with new operational, technological, commercial, and other challenges and issues. Due to the pandemic, many Firms have shifted to predominantly operating from remote sites, and these transitions may raise compliance issues and other risks that could impact protracted remote operations.…

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SEC Releases Cybersecurity Exam Findings: More Compliance Suggestions for Hedge Funds’

The SEC has released observations from its Cybersecurity 2 Initiative (as a follow-up to its 2015 OCIE exam initiative). National Examination Program staff examined 75 firms, including broker-dealers, investment advisers, and investment companies (“funds”) registered with the SEC to assess industry practices and legal and compliance issues associated with cybersecurity preparedness. “The examinations focused on firms’…

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SEC OCIE’s 2015 Cybersecurity Examination Initiative

On September 15, 2015, The SEC has issued another Risk Alert that addresses the SEC’s cyber security examination initiative. The key take away is that OCIE staff will continue its focus on cyber security by conducting examinations of registered broker-dealers and investment advisors. In sharing the key focus areas for the Cybersecurity Examination Initiative, the SEC…

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SEC issues additional guidance on cyber security risk management

The SEC’s Division of Investment Management — which regulates investment companies and investment advisers — has recently issued additional cybersecurity guidance in the form of a Guidance Update based on its 2014 security sweep examinations. Though the alert is fairly broad and high-level, it provides more detail on what reasonable security measures are and it expressly…

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ACE IT Solutions Partners with IBM to Deliver Cyber Security and Compliance Solutions to Hedge Funds

        ACE IT Solutions has partnered with IBM to provide security services that help hedge funds mitigate cyber security risks and meet SEC mandates. This partnership is timely as the SEC has just issued a risk alert detailing its plans to examine financial firms’ cyber security preparedness. According to IBM’s 2014 IBM…

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