Principal Denver Edwards was quoted in the ThinkAdvisor article "SEC Shows Off Cybersecurity Muscle Following EDGAR Breach" by Ed Silverstein on November 8. The article discusses the SEC's two new cybersecurity initiatives and whether their efforts will lead to new cases being brought forward. It also discusses the potential resources that the SEC will allocate to these new units.
“The cyberunit will bring increased focus to this area and likely more enforcement actions,” agrees Denver G. Edwards, an attorney at Bressler, Amery & Ross, and who formerly worked as an attorney at the SEC’s Enforcement Division. “The cyberunit, if the previous five specialized units are a guide, will hire staff with expertise in cybersecurity, leverage data analytics to identify anomalous trading that may have resulted from unauthorized intrusions, and bring cases.”
Edwards said initial cases may arise from violations, such as: failure to have/follow robust cybersecurity policies and procedures, and failure to establish appropriate controls; failure to perform sufficient periodic assessments of cyber procedures and measures; and failure to protect networks containing non-public customer information with appropriate technology and procedures.
To read the entire article on the ThinkAdvisor website, click here
Publication
ThinkAdvisor
11.08.2017