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Asset Management Cybersecurity

Akin Gump Strauss Hauer & Feld LLP

Fund Managers Must Assess Whether Microsoft/CrowdStrike Outage Has Triggered Additional Regulatory Filings

A global technology outage linked to the cybersecurity firm CrowdStrike crashed Microsoft apps and triggered major disruptions across the asset management sector, along with other global industries. Private fund managers...more

Seward & Kissel LLP

CrowdStrike Outage and its Form PF Implications

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In May 2023, the Securities and Exchange Commission (the “SEC”) adopted amendments to Form PF, the confidential reporting form for certain SEC-registered investment advisers to private funds, requiring, among other things,...more

White & Case LLP

AI Watch: Global regulatory tracker - China

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The Interim AI Measures is China's first specific, administrative regulation on the management of generative AI services. Laws/Regulations directly regulating AI (the “AI Regulations”) The Cyberspace Administration of China,...more

Proskauer - The Capital Commitment

Top Ten Regulatory and Litigation Risks for Private Funds in 2024

To understand the litigation and regulatory risks that are coming in 2024 for private capital, it is helpful to look back briefly on recent events. Arguably, the single most important event over the last 18 months was the...more

Dechert LLP

Exploring DORA’s ICT Risk Requirements: Key Issues for Asset Managers

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DORA became law in December 2022 but provides for a grace period until 17 January 2025 for organisations to put in place the necessary measures to comply. The new rules will require engagement from both an operational and...more

Quarles & Brady LLP

Annual Update of Form ADV and Recent Regulatory Changes Affecting Advisers (UPDATED)

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As a reminder, each registered investment adviser must file an annual updating amendment to its Form ADV within 90 days of its fiscal year end. This means an adviser with a December 31 fiscal year end will be required to file...more

K&L Gates LLP

The SEC Publishes 2024 Examination Priorities Ahead of Schedule, Previewing Key Areas of Focus for Registered Entities

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On 16 October 2023, the Division of Examinations (Division) of the US Securities and Exchange Commission (SEC) released its examination priorities for the 2024 fiscal year (the Report). The Division released this Report...more

A&O Shearman

UK – NCSC publishes guidance on shadow IT

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The UK National Cyber Security Centre (NCSC) published its guidance on shadow IT on 27 July 2023. ‘Shadow IT’ are unknown assets that are used within an organisation for business purposes (including in certain cloud...more

Goodwin

FDIC Refines Supervisory Strategy Concerning Multiple Re-Presentment NSF Fees Guidance

Goodwin on

Regulatory Developments - FDIC Refines Supervisory Strategy Concerning Multiple Re-Presentment NSF Fees Guidance - On June 16, the FDIC revised its Supervisory Guidance on Multiple Re-Presentment Non-Sufficient Funds...more

Hogan Lovells

UK FCA Discussion Paper on updating and improving the UK regime for asset management

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The Financial Conduct Authority has published a discussion paper, ‘Updating and improving the UK regime for asset management’, requesting views on the current UK regime for regulating funds and asset managers. The discussion...more

Alston & Bird

NYDFS Releases Significant Enhancements to its Cybersecurity Regulation in the Proposed Second Amendment

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The New York Department of Financial Services (“DFS”) released their proposed second amendment to the Cybersecurity Regulation, 23 NYCRR Part 500 (“Proposed Second Amendment”) on October 9, 2022....more

Proskauer - The Capital Commitment

Increased Regulatory Focus on Privacy and Cybersecurity for Private Funds in 2022

2021 continued the trend of increased regulatory focus on privacy and cybersecurity for private investment funds in the U.S. and abroad. There are no signs of the trend leveling off any time soon. One of the topics that...more

Dechert LLP

Dechert Cyber Bits - Issue 8

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SEC Proposes and Seeks Comments on New Cybersecurity Rules - At an open meeting on February 9, 2022, the Securities and Exchange Commission (“SEC”) voted three-to-one to propose new and amended rules regarding cybersecurity...more

American Conference Institute (ACI)

[Event] 10th Edition of Fraud, Asset Tracing & Recovery - January 24th - 25th, Miami, FL

ACI’s and C5’s 10th Edition of Fraud, Asset Tracing & Recovery Miami conference is returning on January 24 – 25, 2022 in person! Deemed as the foremost, can’t-miss event for the Fraud community, it gathers the pre-eminent...more

Proskauer - The Capital Commitment

Top Ten Regulatory and Litigation Risks for Private Funds in 2021

The regulatory and litigation risks for private funds are greater than at any time since the financial crisis in 2008. Just a few examples prove the point: the pandemic (which caused extraordinary volatility in revenues and...more

Hogan Lovells

Funds and asset management regulatory news, November 2020

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COVID-19: EFAMA updates cyber-prevention standards for investment management companies - The European Fund and Asset Management Association (EFAMA) has published a document updating the International Investment Funds...more

Goodwin

Fintech 2020: A Global Survey on the State of Financial Technology

Goodwin on

Letter from Our Co-Chairs - As the digital transformation of financial markets accelerates at breakneck speeds, fintech presents significant opportunities and challenges for both investors and innovators around the world. ...more

Steptoe & Johnson PLLC

Office for Civil Rights Recommends IT Asset Inventory

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In its Summer 2020 Cybersecurity Newsletter, the U.S. Department of Health & Human Services Office for Civil Rights (OCR) expressed a concern that organizations lacked sufficient understanding as to the location of their...more

Proskauer - The Capital Commitment

UK’s Financial Conduct Authority Warns That Fund Managers Are at Increased Risk of Cyber Attacks

With 46% of UK business reporting a cyber attack during 2019/2020 and 32% reporting at least one a week – see the UK Government’s Cyber Security Breaches Survey 2020 – the UK’s Financial Conduct Authority (“FCA”) has issued a...more

Akin Gump Strauss Hauer & Feld LLP

SEC Risk Alert Highlights on COVID-19-Related Compliance Risks and Considerations for Investment Advisers and Broker-Dealers

- The OCIE of the SEC highlights that responses to COVID-19 present important regulatory and compliance issues for SEC registrants, including “heightened risks of misconduct” tied to recent market volatility. - The Risk...more

Blank Rome LLP

[Webinar] Primers for Pandemic Litigation Update - Critical Assets at Risk: Protecting Data Privacy and Trade Secrets during...

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With the COVID-19 related increase in remote work, anxious employees are being increasingly targeted by cyber criminals and hackers with phishing scams, business e-mail compromise schemes, and malicious ransomware. At the...more

Akin Gump Strauss Hauer & Feld LLP

In Principle: 10 Things Authorised Firms Need to Know for 2020

Welcome to the 2020 edition of In Principle. With the United Kingdom (UK) leaving the European Union (EU) on31 January 2020, and moving into a transition period which will last until 31 December 2020, Brexit of courselooms...more

A&O Shearman

UK Conduct Authority Publishes Findings of Review of Risk Modelling and Other Portfolio Management Tools in the Asset Management...

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The U.K. Financial Conduct Authority has published a report on its review of how firms in the asset management sector selected and used risk modelling and other portfolio management tools. The review was undertaken to assess...more

Troutman Pepper

Investment Management Roundtable Discussion – Data Privacy and Security

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Gregory J. Nowak, a partner and practice leader for hedge funds in Pepper Hamilton’s Private Fund Services Practice Group, hosts a series of candid, interactive webinar discussions for West LegalEdcenter on what is going on...more

Dechert LLP

SEC’s Enforcement Division Releases 2019 Annual Report: Asset Management Industry Enforcement Leads to Record Numbers

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The Enforcement Division (Division) of the Securities and Exchange Commission released its Annual Report on November 6, 2019, summarizing the year’s enforcement activity. It was a record-setting year for the Division due to...more

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