Compliance Newsflash – August 9, 2017

August 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
To read the full article, click here.

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.
For more information, click here.