SEC Publishes Report On Cybersecurity And Resiliency Practices

In January 2020, the U.S. Securities and Exchange Commission's Office of Compliance Inspections and Examinations (OCIE) published Cybersecurity and Resiliency Observations to help market participants and other firms enhance cybersecurity preparedness and operational resiliency. The OCIE's observations are based on its examinations of broker-dealers, investment advisors and other SEC registrants. The observed best practices summarized by the OCIE are useful guidance for organizations of all sizes and in all industries.

Cyber risk management

Cyber risks are risks of loss/harm (e.g. business disruption loss, financial loss, reputational harm, trade secret disclosure and other competitive harm) and costs/liabilities (e.g. incident response and remediation costs, litigation/regulatory proceeding costs, and liabilities to stakeholders, business partners, customers and regulators) suffered or incurred by an organization as a result of a failure or breach of the