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Abstract: 

Responding to growing cyber threats, the SEC has issued regulations requiring financial firms to adopt written programs to safeguard customer records and information, and to prevent identity theft. It has also brought enforcement actions against financial firms attacked by hackers for violating the regulations. As for public companies, the SEC’s principal concerns have been adequate risk disclosure and reporting of material breaches, along with sufficient internal controls. The author discusses these developments. *This article available for download for journal subscribers only; no pay-per-article option is available.

Keywords: cyber attacks; SEC enforcement; broker-dealers; cybersecurity protection; cybersecurity risk disclosure

Affiliations:  1: Holland & Knight LLP.