On Feb 9, 2022 the SEC proposed sweeping new cybersecurity risk management rules and amendments for registered investment advisers (RIAs) and funds. These proposed changes include more specific parameters and enforcement measures around cybersecurity policies, incident reporting and more, and will require many firms to adopt new partners, technologies and processes to comply.
These new rules are a step in the right direction to ensure the protection of alternative financial firms, their investors and the U.S financial market, but what does it mean operationally for RIAs? Our team have carefully combed through the full proposal from the SEC and pulled out the top 7 key areas and takeaways that firms need to focus on in preparation for these changes.
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