SEC Creates Cyber Unit and Retail Strategy Task Force WHAT HAPPENED? On September 25, 2017, the SEC announced the creation of the Enforcement Division’s Cyber Unit and Retail Strategy Task Force. These new initiatives will support the SEC in identifying cyber-related misconduct and risks directly impacting retail investors, respectively. [...]
Legal Risks Associated with Cyberattacks PROACTIVE MEASURES AGAINST CYBERATTACKS The recent ransomware attack that has affected more than 100,000 organizations has emphasized how immense the potential impact can be on the financial services industry. It is imperative for firms to protect their network from these types of threats through various technical [...]
SEC Releases Risk Alert on Ransomware WHAT HAPPENED? On May 17, 2017, the SEC released a risk alert on a widespread ransomware attack, known as WannaCry, WCry or Wanna Decryptor. The hacker(s) conducting the cyber-attack have infiltrated the servers of organizations across more than 100 countries through a Microsoft® Remote Desktop [...]