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ARTICLE · 23 APRIL 2024

Cybersecurity Continues To Be A Focal Point For Regulators In 2024

Proskauer Rose LLP
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The SEC's new and proposed rules on cybersecurity and cyber-incident reporting will have a dual impact on private investment advisers and funds.

United StatesTechnology
Margaret Dale
Margaret Dale
Michael Hackett
Michael Hackett
Stephen Hibbard
Stephen Hibbard
William C. Komaroff
William C. Komaroff
Timothy Mungovan
Timothy Mungovan
Joshua Newville
Joshua Newville
Todd J. Ohlms
Todd J. Ohlms
Robert Pommer
Robert Pommer
Seetha Ramachandran
Seetha Ramachandran
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The SEC's new and proposed rules on cybersecurity and cyber-incident reporting will have a dual impact on private investment advisers and funds.

First, the proposal by the SEC will impose cybersecurity related obligations on investment advisers, registered investment companies and business development companies, with a final rule in this sector (the "adviser cybersecurity rule") expected in April 2024.

Second, the already promulgated Rule on cyber security and incident reporting by public companies adopted in July 2023 (the "corporate cybersecurity rule") will increase scrutiny into, and comparison of, companies' cybersecurity programmes by investors, insurers and the public, as well as by the regulator itself.

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