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By Peter S. Vogel
In a recent speech SEC Chair Mary Jo White declared that while “cybersecurity attacks cannot be entirely eliminated, it is incumbent upon private fund advisers to employ robust, state-of-the-art plans to prevent, detect, and respond to such intrusions.” On October 16, 2015 Chair White also stated that:
Cybersecurity is the shared responsibility of all regulators and market participants, including investment advisers, to guard the broader financial system against intrusions.
She also relied on the SEC Cybersecurity Guidance issued in April 2015:
Clearly all businesses are impacted, not just those regulated by the SEC.
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