On April 20, 2020, the Financial Stability Board released a “consultative document” on Effective Practices for Cyber Incident Response and Recovery (the “Proposal”). The Proposal requests public comment on a “toolkit” of effective practices designed to assist financial institutions in cyber incident response and recovery activities. This Legal Update discusses the content and context of
SEC’s OCIE Publishes Observations on Cybersecurity and Resiliency Practices
On January 27, 2020, the US Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (“OCIE”) issued a 13-page report of observations from its examinations of market participants’ cybersecurity and operational resiliency practices.1 This Legal Update discusses the content and context of the report and its implications for entities subject to examination by