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SEC to Continue Cybersecurity, Alternative Fund Sweeps

The SEC plans to launch a second round of cybersecurity exams this summer, according to ThinkAdvisor. The move was announced by Jane Jarcho, National Associate Director of the Investment Adviser/Investment Company examination program in the Office of Compliance Inspections and Examinations.  Jarcho stated that the new round of examinations will be more in-depth, but shorter in duration than the first round. According to Jarcho, the exams will focus on vulnerabilities at asset managers, oversight of third-party service providers, authentication procedures, and attack response plans.

Jarcho also noted that OCIE also will again examine alternative funds. The exams will cover “30 to 40 funds across 25 to 30 sponsors of alternative funds” and will focus on liquidity and leverage at the funds.