Category

SEC

30 August 2022

‘Cyclops Blink’ Shows Why the SEC’s Proposed Cybersecurity Disclosure Rule Could Undermine the Nation’s Cybersecurity

**This article originally appeared on Lawfare

As nation-state actors increase their malicious cyber capabilities toward companies, U.S. regulators such as the SEC have understandably increased their regulatory focus on cybersecurity. The SEC is of course a well-intended member of Team Cyber, and investors in public companies might benefit from some … Read More

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24 June 2022

SEC Requests Comment on Regulation of Information Providers Under the U.S. Investment Advisers Act

On June 15, 2022, the U.S. Securities and Exchange Commission (Commission) issued a request for comment with respect to whether certain index, model, pricing, and other information providers should be regulated as investment advisers under the Investment Advisers Act of 1940. The Commission suggests fresh consideration is needed in light … Read More

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06 April 2022

SEC Announces 2022 Examination Priorities: Private Funds, ESG, Retail, Cyber, Digital Assets Top the List

On March 30, 2022, the U.S. Securities and Exchange Commission (SEC) Division of Enforcement (EXAMS or Division) issued its annual examination priorities.1 Consistent with its recent rulemaking activity, in its accompanying release, the SEC highlighted private funds; Environmental, Social and Governance (ESG) investing; retail; cyber; and digital assets as … Read More

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11 March 2022

Newly Proposed SEC Cybersecurity Risk Management and Governance Rules and Amendments for Public Companies

On March 9, 2022, the U.S. Securities and Exchange Commission (SEC) proposed new cybersecurity rules to enhance and standardize disclosures regarding cybersecurity risk management, strategy, governance, and incident reporting by public companies. The text of the proposed rules is available here. The SEC proposal would continue to ratchet up … Read More

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09 March 2022

Data Protection in Financial Services Week 2022

WEBINAR

From February 28-March 3, Sidley and OneTrust DataGuidance hosted their annual Data Protection in Financial Services (DPFS) Week, a series of webinars looking at the impacts of data privacy across the financial sector. Industry speakers covered a range of issues including:

  • How the latest privacy and cybersecurity developments in
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04 March 2022

Newly Proposed SEC Cybersecurity Risk Management Rules and Amendments for Registered Investment Advisers and Funds

On February 9, 2022, the U.S. Securities and Exchange Commission (SEC) proposed comprehensive rules for registered advisers and funds. Among other things, these rules will require advisers and funds to implement written policies and procedures designed to address cybersecurity risks, report significant cybersecurity incidents to the SEC within 48 hours
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10 February 2022

SEC Chair: Sweeping New Cybersecurity Rules Are Coming Soon

On Monday, January 24, 2022, in a speech at the Northwestern University Pritzker School of Law annual Securities Regulation Institute conference, Gary Gensler, Chair of the U.S. Securities and Exchange Commission (SEC), announced that he has asked SEC staff to provide sweeping rulemaking recommendations to modernize and expand the agency’s … Read More

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07 February 2022

Preparing Your 2021 Form 10-K: A Summary of Recent Key Disclosure Developments, Priorities, and Trends

This Sidley Practice Note highlights certain key disclosure considerations for preparing your annual report on Form 10-K for fiscal year 2021, including recent amendments to U.S. Securities and Exchange Commission (SEC) disclosure rules and other developments that impact 2021 Form 10-K filings, as well as certain significant disclosure trends and … Read More

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26 January 2022

Caremark’s Comeback Includes Potential Director Liability in Connection With Data Breaches

Caremark­-based claim against a board of directors alleging a failure to monitor corporate operations has been said to be “the most difficult theory in corporation law upon which a plaintiff might hope to win a judgment,” or at least to withstand a motion to dismiss.  Yet, Caremark has … Read More

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12 January 2022

SEC Encourages Self-Reporting of Recordkeeping Violations Resulting From Employees’ Use of Personal Devices for Business Communications

On December 17, 2021, the U.S. Securities and Exchange Commission (SEC) announced settled charges against a broker-dealer firm for recordkeeping violations arising from its employees’ use of personal devices for business communications. The firm agreed to pay a $125 million penalty and to retain a compliance consultant to conduct a … Read More

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