SEC Announces Enforcement Initiatives to Combat Cyber-Based Threats and Protect Retail Investors

The Securities and Exchange Commission recently announced new initiatives that will build on its Enforcement Division’s ongoing efforts to address cyber-based threats and protect retail investors. The Cyber Unit will focus the Enforcement Division’s substantial cyber-related expertise on targeting cyber-related misconduct, such as:

• Market manipulation schemes involving false information spread through electronic and social media
• Hacking to obtain material nonpublic information
• Violations involving distributed ledger technology and initial coin offerings
• Misconduct perpetrated using the dark web
• Intrusions into retail brokerage accounts
• Cyber-related threats to trading platforms and other critical market infrastructure

At Weaver we perform full cybersecurity assessments including penetration testing and the drafting of cybersecurity policies and procedures. As evidenced by the Commission’s aggressive stance, we feel it is imperative that your cybersecurity program meets the high standards of the guidelines provided by the Commission.

https://www.sec.gov/news/press-release/2017-176