News & Analysis as of

Regulation S-P Office of Compliance Inspections and Examinations Data Protection

Kramer Levin Naftalis & Frankel LLP

OCIE Warns of Increased ‘Credential Stuffing’ Cyberattacks on Investment Advisers, Broker-Dealers

The  Securities and Exchange Commission’s (SEC) Office of Compliance Inspections and Examinations (OCIE) has published a risk alert, warning SEC-registered investment advisers, brokers and dealers about the increasing use of...more

Proskauer - The Capital Commitment

Privacy in the Time of Pandemic: COVID-19 Provides Opportunity to Revisit Regulation S-P Privacy Policies

With more people working remotely than ever before in light of COVID-19, firms in the private equity and hedge fund space should review their Regulation S-P privacy and information-safeguarding policies to ensure they are...more

Jones Day

SEC Releases Cybersecurity Observations and Guidance - The SEC's Office of Compliance Inspections and Examinations ("OCIE")...

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On January 27, 2020, OCIE issued a report detailing cybersecurity and resiliency observations the staff made after "thousands of examinations of broker-dealers, investment advisers, clearing agencies, national securities...more

Carlton Fields

On Cybersecurity, Grab the Low-Hanging Fruit

Carlton Fields on

SEC Tells Firms to Stop Missing the Basics on Cybersecurity - The SEC’s Office of Compliance Inspections and Examinations (OCIE) reported in a recent Risk Alert that many investment advisers and broker-dealers are failing to...more

Akin Gump Strauss Hauer & Feld LLP

SEC OCIE Issues Guidance on Advisors’ and Broker-Dealers’ Cloud-Based and Other Network Storage of Customer Data

• On May 23, 2019, the Securities and Exchange Commission’s (SEC) Office of Compliance Inspections and Examinations (OCIE) issued a Risk Alert describing its observations in past examinations of weaknesses and best practices...more

Faegre Drinker Biddle & Reath LLP

U.S. Securities and Exchange Commission Issues Risk Alert Regarding Safeguarding Customer Records and Information Stored on...

On May 23, 2019, the United States Securities and Exchange Commission (“SEC”)’s Office of Compliance Inspections and Examinations (“OCIE”) issued a Risk Alert entitled “Safeguarding Customer Records and Information in Network...more

Nelson Mullins Riley & Scarborough LLP

OCIE Issues Guidance on Regulation S-P

The Office of Compliance Inspections and Examinations (the “OCIE”) issued a risk alert that provides guidance to broker-dealers and investment advisors for complying with the requirements of Regulation S-P on April 16, 2019. ...more

Baker Donelson

SEC Issues Risk Alert on Regulation S-P

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It should not be surprising to anyone that cybersecurity and data protection remain top priorities for regulators of the financial services industry. Indeed, cybersecurity has been regularly identified as a key priority by...more

Neal, Gerber & Eisenberg LLP

Client Alert: SEC Issues Risk Alert Warning of Privacy Issues Identified in Recent Examinations of Registered Investment Advisers...

On April 16, 2019, the Securities and Exchange Commission’s (SEC) Office of Compliance Inspections and Examinations (OCIE) issued a Risk Alert summarizing numerous issues it found in its recent examinations of SEC-registered...more

Skadden, Arps, Slate, Meagher & Flom LLP

Privacy & Cybersecurity Update - April 2019

In this month's Privacy & Cybersecurity Update, we examine several recent U.K.-related cybersecurity developments and the SEC's risk alert reminding investment advisers and broker-dealers to follow through on implementing...more

Kramer Levin Naftalis & Frankel LLP

OCIE Issues Risk Alert Urging Investment Advisers, Brokers-Dealers to Adhere to Privacy Guidelines

The SEC’s Office of Compliance Inspections and Examinations (OCIE) published a risk alert to encourage registrants to review their privacy policies in light of certain deficiencies observed by OCIE staff during recent...more

Sheppard Mullin Richter & Hampton LLP

SEC Issues Risk Alert on Customer Privacy Safeguards

Earlier this month, the Securities and Exchange Commission (“SEC”) took a break from its recent focus on digital assets and the Best Interest fiduciary standard to publish a Risk Alert encouraging investment advisers and...more

Patterson Belknap Webb & Tyler LLP

SEC Warns Advisers Over Privacy Compliance Issues

The Securities and Exchange Commission is warning investment firms to step up their game when it comes to following the agency’s privacy rules. In a Risk Alert issued by the Office of Compliance Inspections and Examinations...more

Katten Muchin Rosenman LLP

Not So Secure: OCIE Identifies Regulation S-P Compliance Issues

On April 16, the SEC's Office of Compliance Inspections and Examinations (OCIE) published a Risk Alert outlining issues related to compliance with Regulation S-P that it identified in its inspections of SEC-registered...more

Proskauer Rose LLP

OCIE Releases Risk Alert for Investment Advisers and Broker-Dealers, Under Regulation S-P

Proskauer Rose LLP on

On April 16, 2019, the SEC's Office of Compliance Inspections and Examinations ("OCIE") issued a Risk Alert, based on compliance issues identified in recent examinations of investment advisers registered with the SEC and...more

Bass, Berry & Sims PLC

SEC Issues Risk Alert on Privacy Issues

Bass, Berry & Sims PLC on

The SEC has again signaled that now is the time for investment advisers and broker-dealers to get serious about compliance with Reg. S-P. For years, the SEC’s examination priorities have included a focus on cybersecurity...more

McGuireWoods LLP

SEC OCIE Highlights Potential Deficiencies in Firm Privacy Policies

McGuireWoods LLP on

On April 16, the SEC’s Office of Compliance Inspections and Examinations (“OCIE”) issued a Risk Alert highlighting Regulation S-P compliance deficiencies and issues it found in recent examinations of broker-dealers and...more

UB Greensfelder LLP

The SEC Released A Risk Alert On Reg S-P, a/k/a How To Avoid A $1 Million Penalty

UB Greensfelder LLP on

I am hardly saying that SEC Regulation S-P is the sexiest of regulations. I mean, has any customer is history actually read one of those exciting statement stuffers that discloses in some dense font a BD’s privacy policy?...more

Katten Muchin Rosenman LLP

Bridging the Week - April 2019 #3

The watchdog arm of the Securities and Exchange Commission – the Office of Compliance Inspections and Examinations – issued a Risk Alert summarizing breakdowns in compliance by broker-dealers and investment advisers of their...more

Fox Rothschild LLP

OCIE Issues Risk Alert Regarding Compliance With Regulation S-P’s Notice And Safeguard Policy Requirements

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On April 16, the Securities and Exchange Commission (SEC)’s Office of Compliance Inspections and Examinations (OCIE) released a new Risk Alert that identifies common compliance issues facing investment advisers and...more

Vedder Price

SEC: Practice What You Preach on Privacy

Vedder Price on

One of the most common things we discuss with clients is the need to ensure that privacy policies accurately reflect the actual procedures in place for handling confidential information. The SEC reiterated that point last...more

Eversheds Sutherland (US) LLP

Decoding Regulation S-P – What noncompliance looks like and what it will cost you

As every investment adviser, broker-dealer, and fund (and their lawyer) knows, noncompliance with Regulation S-P, the SEC’s primary rule on privacy notices and safeguard policies, can land a registrant in hot and expensive...more

Alston & Bird

SEC Issues Risk Alert Noting Common Regulation S-P Compliance Issues

Alston & Bird on

The SEC’s Office of Compliance Inspections and Examinations (“OCIE”) has issued a Risk Alert that provides an overview of the most common deficiencies or weaknesses in investment adviser and broker-dealer compliance with the...more

Kramer Levin Naftalis & Frankel LLP

Funds Talk: October 2017 - SEC Report Highlights Financial Firms’ Cybersecurity Improvements and Shortcomings

On Aug. 7, 2017, the Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (OCIE) released a risk alert summarizing the results of its second cybersecurity preparedness examination. ...more

Skadden, Arps, Slate, Meagher & Flom LLP

OCIE Releases Results of Cybersecurity Examination Initiative

On August 7, 2017, the Office of Compliance Inspections and Examinations (OCIE) of the U.S. Securities and Exchange Commission (SEC) released a summary of its observations (the report) from cybersecurity examinations of 75...more

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