In recent years, the Securities and Exchange Commission (SEC) has prioritized the regulation, monitoring, and enforcement of cybersecurity activities. On Sept, 25, the SEC reinforced its commitment to cybersecurity when the Enforcement Division announced the formation of a “Cyber Unit” that will target cyber-related misconduct affecting the securities markets.
In recent years, the Securities and Exchange Commission (SEC) has prioritized the regulation, monitoring, and enforcement of cybersecurity activities. On Sept, 25, the SEC reinforced its commitment to cybersecurity when the Enforcement Division announced the formation of a “Cyber Unit” that will target cyber-related misconduct affecting the securities markets. In the press release announcing the new unit, the SEC specified the following six types of misconduct:
- Market manipulation by spreading false information
- Hacking to obtain material nonpublic information for insider trading
- Misconduct related to distributed ledger technology and initial coin offerings
- Misconduct perpetrated using the dark web
- Hacking into retail brokerage accounts
- Hacking into trading platforms
The wrongdoing targets only hackers and outside threats, and fails to mention cyber-related enforcement against registered entities or public companies. To view this article in full, please visit law.com. (Subscription required)