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News & Insights: CyberSecurity

CyberSecurity
16 Nov, 2023

Stay Vigilant to Help Prevent Cyberattacks During the Holidays

Cybercrimes tend to increase during the holiday season, as malicious actors take advantage of the increased employee travel and distractions that are more common during the holiday season. To help protect from cyberattacks during the busy holiday season, the FBI and CISA compiled several recommendations that employees can take now to prevent from these kinds of attacks.

CyberSecurity
22 Oct, 2024

SEC Charges for Misleading Cyber Disclosures

On October 22, 2024, the SEC announced charges against four current and former public companies for “making materially misleading disclosures regarding cybersecurity risks and intrusions”, according to a SEC press release.

CyberSecurity
29 Aug, 2024

SEC Charges Equiniti Trust for Cyber Failures

On August 20th, 2024, the SEC announced that it settled charges against Equiniti Trust Company LLC (formerly American Stock & Trust Company, LLC) due to failing to ensure client securities and funds were protected from theft. Equiniti Trust Company LLC (“Equiniti”) incurred two cyber incidents from 2022 to 2023 that resulted in the loss of more than $6.6 million of client funds.

CyberSecurity
13 Aug, 2024

CrowdStrike Incident Reinforces Importance of Revisiting BCPs

Although Artificial Intelligence (AI) brings tremendous opportunity, it also presents significant risk—particularly to those with access to sensitive client information and personally identifiable information (PII).

CyberSecurity
19 Jul, 2024

CrowdStrike Causes Globe Outages

CrowdStrike, a leading cybersecurity vendor, has caused a significant global IT outage affecting millions of computers using Microsoft Windows operating systems.

Flash Reports
09 Jul, 2024

The SEC’s Updated Spring 2024 Regulatory Agenda

On July 8, the SEC issued an updated Spring 2024 regulatory agenda, which includes updated timing related to several key regulatory actions. This signals another busy few months for the SEC.

Flash Reports
02 May, 2024

AI Considerations

On April 15th, 2024, the SEC’s enforcement director, Gurbir Grewal, spoke at the Program on Corporate Compliance and Enforcement Spring Conference 2024, where he discussed the use of artificial intelligence (“AI”), cybersecurity, and disclosure obligations, among other topics.

Flash Reports
04 Apr, 2024

The Risks of Artificial Intelligence in Financial Services

In March, the U.S. Department of Treasury has released its newest report, Managing Artificial Intelligence- Specific Cybersecurity Risks in the Financial Services Sector. The report, which was mandated by Executive Order 14110, Safe, Secure, and Trustworthy Development and Use of Artificial Intelligence, outlines the current state of AI as it relates to the financial industry, as well as best practices for managing and utilizing AI, largely in relation to growing fraud and cybersecurity threats associated with AI.

Flash Reports
19 Mar, 2024

For the First Time, the SEC Charges Two Investment Advisers for “AI Washing”

The SEC announced on Monday that it settled charges against two investment advisers, Delphia (USA) Inc. and Global Predictions Inc., for making false and misleading statements about their purported use of artificial intelligence (AI), according to a SEC press release. This is the first time the SEC has fined investment advisers for false and misleading statements about their use of AI.

CyberSecurity
06 Mar, 2024

NIST Releases Updated Version of Cybersecurity Framework

Last week, the National Institute of Standards and Technology (NIST) released version 2.0 of its widely used Cybersecurity Framework (CSF), its landmark guidance document for reducing cybersecurity risk. This is the first major update since the framework was initially launched in 2014 to help organizations understand, mitigate, and communicate cybersecurity-related risks.

Flash Reports
13 Feb, 2024

Risk Alert: Phishing Campaign Targeting Senior Corporate Accounts in Microsoft Azure

An active phishing campaign using individualized phishing lures is targeting senior corporate accounts in Microsoft Azure environments, according to researchers from Proofpoint, a company that provides cybersecurity products and software.