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ARTICLE · 23 FEBRUARY 2022

SEC Announces Proposed Cybersecurity Rules For Advisers And Funds

Haynes and Boone, L.L.P.
Haynes and Boone, L.L.P.
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Haynes and Boone, L.L.P.

Haynes and Boone, L.L.P.

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On February 9, the Securities and Exchange Commission announced proposed new rules related to cybersecurity risk management for registered investment advisers, registered investment companies, and funds.

United StatesTechnology
Kit Addleman
Kit Addleman
Timothy Newman
Timothy Newman
Carrington M. Giammittorio
Carrington M. Giammittorio

On February 9, the Securities and Exchange Commission announced proposed new rules related to cybersecurity risk management for registered investment advisers, registered investment companies, and funds.1 In addition to enhancing the requirements for cybersecurity risk and incident disclosures, the proposed rules would introduce three new obligations for advisers and funds:

  • Adoption and implementation of written policies and procedures that are reasonably designed to address cybersecurity risks;
  • Reporting of significant cybersecurity incidents to the Commission on a new, proposed Form ADV-C; and
  • Maintenance and retention of certain cybersecurity-related books and records.

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