Cybersecurity in the investment management industry
The following summarizes recent legal developments of note affecting the mutual fund/investment management industry. On October 21, 2024, the SEC Division of Examinations (“EXAMS”) published its annual Examination Priorities...more
Clawback Rules. As previously discussed in last Winter’s Corporate Communicator, the Securities and Exchange Commission (“SEC") adopted final rules in October 2022 directing the NYSE and Nasdaq to adopt listing standards that...more
The U.S. Securities and Exchange Commission (the “SEC”) has adopted amendments and updated disclosure requirements that are to be included in a reporting company’s annual report on Form 10-K or 20-F. The SEC has also proposed...more
Creation of a new rapid response team signals regulators may turn today’s cyber examination priorities into tomorrow’s enforcement priorities. The Securities and Exchange Commission, New York State Department of Financial...more
On the heels of a January 2019 announcement that it was charging nine persons with participation in a scheme that allowed them to hack into the SEC’s confidential database of public filings, commonly known as EDGAR....more
As we previously discussed, nobody is safe from cybersecurity threats, and as our colleagues last reported, the US Securities and Exchange Commission (SEC) has heightened its cybersecurity scrutiny, issuing an investigative...more
The Securities and Exchange Commission has filed a Complaint against eight traders, one alleged hacker, and others, in connection with a previously disclosed cybersecurity attack that infiltrated the SEC’s EDGAR system in...more
Cyber attacks continue to be a pervasive and destructive threat to all institutions and the legal and regulatory landscape currently in place to address those threats continues be reshaped in an effort to address those...more
When finalizing proxy materials for upcoming annual shareholder meetings, we recommend that public companies consider the following requirements under the Securities and Exchange Commission (SEC) rules and stock exchange...more
The U.S. Securities and Exchange Commission is at the center of the current day “cyber storm” of data and system protection, both as a victim and as a regulator. According to an SEC director, “[c]yber-related threats and...more
It was recently revealed that the Securities and Exchange Commission’s (“SEC”) EDGAR database, which is used by public companies to file official documents, was breached. According to the SEC, trading off of that hacked...more
As you probably read in the papers, SEC Chair Jay Clayton announced yesterday that, in 2016, the SEC’s EDGAR system was hacked and, in August 2017, the staff determined that the hack may have led to insider trading. The...more