News & Analysis as of May 11, 2025

Investment Management

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Follow this channel for advisories on one of the biggest threats to businesses today. Read a morning brief of fresh guidance and commentary by leading lawyers on security, privacy, risk... more +

Follow this channel for advisories on one of the biggest threats to businesses today. Read a morning brief of fresh guidance and commentary by leading lawyers on security, privacy, risk management, global regulations, data protection, leaks, hacking, cyber insurance, compliance, HIPAA, and every other aspect of cybersecurity of import to corporate readers right now. less -

The EU’s Digital Operational Resilience Act Comes Into Effect

Ogletree, Deakins, Nash, Smoak & Stewart,... on 1/27/2025

The European Union’s Digital Operational Resilience Act (DORA) came into effect on January 17, 2025. DORA aims to harmonise rules concerning the provision of information and communication technology (ICT) services to...more

The Department of Labor’s Expanded Cybersecurity Guidance: What ERISA Plan Sponsors and Fiduciaries Need to Know

Seyfarth Shaw LLP on 11/11/2024

On September 6, 2024, the U.S. Department of Labor (DOL) issued Compliance Assistance Release No. 2024-01, titled “Cybersecurity Guidance Update.” The updated guidance clarifies that the DOL cybersecurity guidance applies to...more

DOL Updates and Confirms Cybersecurity Guidance Applies to All ERISA Plans

Patterson Belknap Webb & Tyler LLP on 10/9/2024

In September 2024, the U.S. Department of Labor (the “DOL”) released Compliance Assistance Release No. 2024-01 and its updated cybersecurity guidance for employers that sponsor employee benefit plans governed by the Employee...more

Privacy Peril: End of the Year Investment Planning

Bass, Berry & Sims PLC on 1/3/2023

Over the years we have offered several recommendations to increase your protection against attacks and intrusions and harden your cybersecurity. In this final tip for 2022, we mention a novel, though somewhat radical,...more

ERISA Plan Sponsors: DOL Investigation Defense: Adopt Solid Cybersecurity Protocols

Pullman & Comley - Labor, Employment and... on 8/30/2022

In April 2021, Employee Benefits Security Administration division of the United States Department of Labor (“DOL”) issued cybersecurity related guidance intended to assist business owners and plan fiduciaries to prudently...more

Alight Solutions Must Comply with Subpoena Issued by DOL in Cybersecurity Incident Investigation

Robinson+Cole Data Privacy + Security Insider on 8/22/2022

A subpoena was issued to Alight Solutions by the U.S. Department of Labor (DOL) for documents related to a cybersecurity breach that potentially resulted in Employee Retirement Income Security Act (ERISA) violations. Alight...more

US Securities and Exchange Commission Increases Focus on Cybersecurity

Mayer Brown Free Writings + Perspectives on 10/15/2021

This past summer’s string of cyber enforcement actions signals that cybersecurity has become a top priority for the US Securities and Exchange Commission (“SEC”). This focus is consistent with the SEC’s Division of...more

DOL Begins Its Cybersecurity Audit Initiative – And It’s a Doozy

Morgan Lewis - ML Benefits on 6/11/2021

We repeatedly warned over the past few months, that officials at the highest levels of the DOL were signaling that the DOL would begin an audit initiative focusing on retirement plan cybersecurity practices. ...more

Department of Labor issues novel cybersecurity guidance for benefit plan sponsors and their service providers

Hogan Lovells on 5/7/2021

On April 14, the Department of Labor’s Employee Benefits Security Administration (EBSA) issued its first cybersecurity-focused guidance related to benefit plans regulated by Employee Retirement Income Security Act (ERISA)....more

EBSA Speaks: New Guidance for Mitigating Retirement Plan Cybersecurity Risk

Epstein Becker & Green on 4/19/2021

On April 14, 2021, the U.S. Department of Labor’s (“DOL’s”) Employee Benefits Security Administration (“EBSA”) issued its first cybersecurity best practices guidance for retirement plans. The guidance is set forth in three...more

ERISA Plan Sponsors – Watch Your Participants’ Data! DOL Issues New Cybersecurity Guidance for Retirement Plans

Akerman LLP - HR Defense on 4/16/2021

In response to a recent General Accounting Office (GAO) report recommending federal guidance to mitigate cybersecurity risks in retirement plans and to respond to ever-increasing cyber threats to plan participant data and...more

Funds and asset management regulatory news, November 2020

Hogan Lovells on 11/10/2020

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

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

Akin Gump Strauss Hauer & Feld LLP on 8/21/2020

- 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

The CCPA and Similar State Laws – Considerations for Private Investment Funds

Morgan Lewis on 2/28/2020

Managers of private investment funds that collect personal information are required to comply with the landmark California Consumer Privacy Act – with some exemptions. ...more

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

Akin Gump Strauss Hauer & Feld LLP on 1/30/2020

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

Investment Management Roundtable Discussion – Data Privacy and Security

Troutman Pepper Locke on 1/10/2020

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

What Funds Should Know About The New Cayman Islands Data Protection Law

Kramer Levin Naftalis & Frankel LLP on 11/1/2019

The Cayman Islands recently implemented data protection legislation similar to that adopted elsewhere in the world, including the EU’s General Data Protection Regulation (GDPR). The GDPR forced many businesses outside its...more

NFA Issues Interpretive Notices for CPOs Regarding Internal Controls Systems and Cybersecurity

Akin Gump Strauss Hauer & Feld LLP on 1/15/2019

• The NFA has determined that registered CPOs must implement an internal controls system and highlighted best practices for such a framework. • In response to certain frequently asked questions, the NFA has also updated its...more

SEC Releases Interpretive Guidance on Cybersecurity Risk and Incident Disclosures

Moore & Van Allen PLLC on 4/13/2018

On Feb. 22, 2018, the Securities and Exchange Commission (SEC) issued its first interpretive guidance since October 2011 on public companies’ cybersecurity risk and incident disclosure obligations. ...more

The Impact of the General Data Protection Regulation on Investment Managers

Akin Gump Strauss Hauer & Feld LLP on 3/6/2018

The new European General Data Protection Regulation (Regulation (EU) 2016/679) (GDPR) will take effect on 25 May 2018. The GDPR expands and clarifies the EU’s existing personal data protection framework. Investment managers...more

Investment Services Regulatory Update - February 2018

Vedder Price on 2/13/2018

New Rules, Proposed Rules, Guidance and Alerts – SEC STAFF GUIDANCE AND ALERTS - SEC Staff Issues Guidance on Cryptocurrency-related Holdings - On January 18, 2018, the staff of the SEC’s Division of Investment...more

SEC’s Cybersecurity Risk Alert Reflects Advisory Firms are Gambling with Your Data

Burr & Forman on 8/28/2017

In August 2017, the SEC’s Office of Compliance Inspections and Examinations issued a Cybersecurity risk alert directed at financial advisory firms. As part of the SEC’s 2014 Cybersecurity Initiative, seventy-five firms,...more

SEC Observations from Recent Cybersecurity Examinations Identify Best Practices

Morgan Lewis on 8/15/2017

The SEC continues to focus on cybersecurity as an area of concern within the investment management industry....more

Cybersecurity Update: National Futures Association Proposes Cybersecurity Guidance Setting Forth General Requirements for Member...

K&L Gates LLP on 9/10/2015

The National Futures Association (“NFA”) submitted to the Commodity Futures Trading Commission (“CFTC”) on August 28, 2015 a proposed Interpretive Notice (“Proposed Guidance”) for CFTC’s approval, which provides guidance to...more

Investment Management Legal + Regulatory Update - February 2015

Morrison & Foerster LLP on 2/27/2015

In This Issue: - SEC Proposes Rule Requiring Hedging Disclosure - SEC Reports the Result of its Cybersecurity Sweep of Broker-Dealers and Investment Advisers - House Passes Bill to Ease Volcker Rule and Other...more

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