SEC Issues New Guidance on Cybersecurity and Resiliency: Is your firm prepared?

The Office of Compliance Inspections and Examinations (“OCIE”) of the U.S. Securities and Exchange Commission (“SEC”) recently published its Cybersecurity and Resiliency Observations to guide market participants in enhancing their cybersecurity preparedness and operational resiliency. Based on its recent examinations of broker-dealers, investment advisers and other SEC registrants, OCIE identified certain measures and industry practices that, when implemented, OCIE believes can effectively comb