By: Richard Borden, Jay Shapiro, Lori Smith and Gwenn Barney
Chairman Jay Clayton of the U.S. Securities and Exchange Commission (SEC) announced two new initiatives on September 25, 2017. The Commission has created a Cyber Unit that will focus on cyber-related misconduct and a Retail Strategy Task Force to help protect retail investors.
The announcement concerning the Cyber Unit follows a statement made several days earlier by Chairman Clayton in which he noted that the SEC “is focused on identifying and managing cybersecurity risks and ensuring that market participants – including issuers, intermediaries, investors and government authorities – are actively and effectively engaged in this effort and are appropriately informing investors and other market participants of these risks.” (more…)