SEC Proposes New Requirements to Mitigate Conflicts of Interest Associated With the Use of Predictive Data Analytics by Broker-Dealers and Investment Advisers

The SEC states a “covered technology” includes a broker-dealer or investment advisers’ “use of analytical, technological, or computational functions algorithms, models, correlation matrices, or similar methods or processes that optimize for, predict, guide, forecast, or direct investment-related behaviors or outcomes of an investor”.

SEC Adopts Cyber Risk Management Rule for Public Companies

On July 26th, 2023, the SEC adopted rules requiring public companies “to disclose material cybersecurity incidents they experience and to disclose on an annual basis material information regarding their cybersecurity risk management, strategy, and governance”.

NSCP Currents: Home Wi-Fi Security Best Practices

In today’s hybrid work environment, firms are increasingly reliant on home networks that employees use to work remotely. Securing home Wi-Fi networks has become critical to safeguarding firm and client information.

SEC Adopts Reforms for Money Market Funds and Amendments to Form PF Reporting by Large Liquidity Fund Advisers

On July 12, 2023, the SEC adopted amendments to Investment Company Act rules regarding money market funds and large private liquidity fund advisers. The amendments will be effective 60 days after publication in the Federal Register.

SEC Examination Requests Regarding New Marketing Rule Compliance

The SEC has begun requesting more information in exams to assess compliance with the new Marketing Rule.

The SEC’s Proposed and Final Rules and Key Dates

the SEC’s proposed compliance- and cyber-related rules, including associated dates and links to the full rules.

Fairview Cyber Comment Letter

SEC Fall Agenda and the Cyber Risk Management Rule

In October 2023, the SEC will finalize its Cyber Risk Management rule according to its fall agenda. The final regulation was initially expected to be released in April 2023, but that date was delayed due to the comment period reopening.

SEC Risk Alert on the New Marketing: Additional Areas of Focus for Examinations

EXAMS published a risk alert to inform investment advisers, including advisers to private funds, about areas of emphasis for examinations focused on Rule 206(4)-1 of the Investment Advisers Act of 1940. 

Cybersecurity Requests in SEC Exams

A current cyber sweep exam is underway by the Division of Examinations. The request list includes multiple items that align with proponents of the proposed cybersecurity rule