Compliance Newsflash – August 9, 2017August 9, 2017
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SEC Examiners Find Cybersecurity Problems at Firms
On August 7, 2017, Bloomberg BNA reported that SEC staffers discovered at least one cybersecurity issue with the “vast majority” of broker-dealers, investment advisers, and funds they examined between September 2015 and June 2016, a new risk alert said. The problems included cybersecurity procedures and policies that provided only general guidance to employees and didn’t appear to be enforced by firms, according to the Aug. 7 report from the Securities and Exchange Commission’s Office of Compliance Inspections and Examinations. Computer system maintenance, such as installing software updates to address vulnerabilities, also seemed to be a challenge for at least some of the 75 firms the SEC staff observed, the agency said
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SEC Staff Publishes Report on Access to Capital and Market Liquidity
On August 8, 2017, the SEC Division of Economic and Risk Analysis (DERA) published a report describing trends in primary securities issuance and secondary market liquidity, and assessing how those trends relate to post-crisis regulatory reforms. The report was requested by Congress as part of the FY2016 appropriations process.
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