OCIE Publishes Risk Alert Regarding Cybersecurity Examination Initiative for Registered Investment Advisers and Broker-Dealers
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Continuing its focus on cybersecurity issues, on September 15, 2015, the SEC’s Office of Compliance Inspections and Examinations (OCIE) published a Risk Alert announcing guidance pertaining to the upcoming second round of cybersecurity examinations aimed at registered investment advisers and broker-dealers, which examinations will involve testing to assess implementation of firm procedures and controls. OCIE stated that its Cybersecurity Examination Initiative is designed to build on its previous cybersecurity exams and guidance, and to assess cybersecurity preparedness in the securities industry, including firms’ ability to protect client information.