ECI’s Post

Proskauer's Top Ten Regulatory and Litigation Risks for Private Funds in 2024 - Risk #7 As regulators retain a focus on cybersecurity, what does this mean for private fund advisers? Margaret A. Dale, Seetha Ramachandran , Hena Vora and Isiah Anderson explore the US position and Kelly McMullon and I contrast with the UK's approach. 👇 #proskauer #litigation #regulation #cybersecurity #SEC #assetmanagement #assetmanagers #privatefunds

Poised for adoption in the near term, the SEC's proposed cybersecurity rule for registered investment advisers, investment companies and BDCs is likely to reverberate beyond the regulatory and compliance arena. Benchmarks for best-practices are likely to evolve in response to industry-wide focus on policies and procedures, likely driving investor focus -- and even insurer focus -- on whether a firm's cybersecurity controls are keeping pace. In fact, the SEC is counting on it.

Gain insight into the challenges and implications posed by the latest SEC regulations on cybersecurity for private investment advisers and funds. Our asset management litigation team emphasizes the importance of proactive risk management, compliance endeavors, and cohesive coordination across organizational functions. Read the latest article in the Top Ten Regulatory and Litigation Risks for Private Funds in 2024 series. https://bit.ly/3W3KMOj #Proskauer #privatefunds #regulatory #privatecapital #cybersecurity

Proskauer's Top Ten Regulatory and Litigation Risks for Private Funds in 2024 - Risk #7 As regulators hone in on cybersecurity, we help you understand what that means for private fund advisers.

The Digital Operational Resilience Act (#DORA) is new EU legislation which aims to achieve a high common level of digital operational resilience in the financial services sector. DORA is far-reaching and highly prescriptive, with significant penalties for non-compliance. With just over one year to go, Mazars’ Anton Yunussov details what you need to do to achieve compliance in our latest article. Read more:  https://lnkd.in/g_mKzKVA #CybersecurityAwarenessMonth  #Mazars #Mazarsinhongkong #datatransfer #cyber #EU #compliance #financialservices

Cybersecurity is a complex and ever-changing area discussion, but one many businesses will not be able to ignore as they seek to digitise more and more aspects of their operations. Find out here how DORA will be impacting EU businesses, and what that might mean for those operating outside of the bloc: . . . . . #CyberSecurity #EU #DORA #Digitisation #CyberRisk #CyberAwareness

In this article, Maliha and Lucas discuss the SEC's adoption of new rules that require public companies to disclose material cybersecurity incidents and to provide annual disclosure of their cybersecurity risk management, strategy, and governance. https://hubs.ly/Q02mDky20

The Digital Operational Resilience Act (DORA) now stands as a new cornerstone for ensuring the financial sector stability in the EU. By fortifying the industry's cybersecurity defenses, #DORA ensures a cohesive response to financial data breaches among EU member states 🛡️ This regulation brings a new era of accountability, shifting the paradigm from reactive to proactive risk management. But, with mandatory application, non-compliance carries a hefty price. 📌 Discover the implications of non-compliance with the DORA – from financial penalties to administrative repercussions and potential criminal consequences – in our latest article by Adel Al-Keysi, Director of Information Security Compliance. #Avenga #AvengaInsights #Cybersecurity #EURegulation #RiskManagement #DataSecurity

🔐 New SEC cybersecurity regulations reshape risk management & incident reporting. 📊 Learn how to align #MobileAppSecurity with business goals to improve #Compliance & investor confidence. #Cybersecurity #SECRegulations #RiskManagement https://loom.ly/WXN--P8

Concur on these lessons learned - from almost 15 years in the trenches of NERC CIP "You can't disclose what you can’t see. Yet, willful blindness is not a working defense" and "It's critical to maintain transparency and do the basics right. In particular, companies should be ready to revise disclosures with greater detail as available." - you must have a program and your initial disclosure should leave the room for the root cause investigation that will actually better inform the scope of the issues. Your internal investigation strategy better include checkpoints along the way to revisit and update your disclosure and flex your enforcement/legal strategy. "Prioritize sharing. Information sharing has proven its value for all sectors."  - the only way to keep up with the bad guys is to unite as the good guys. We have a chronic "undershare" problem in the sector for legitimate reasons related to security and less important (to security) CYA reasons. CISA, the ISACs and several agencies are attempting to rapidly develop secure information sharing mechanisms. Get connected and engaged.