03.03.22

SEC's Crenshaw Assures Advisors Agency Doesn't Seek to Punish Cyberattack Victims

by: Mark Schoeff, Jr.

SEC Commissioner Caroline Crenshaw attempted to reassure investment advisors that they will not be penalized for suffering cyberattacks in a Q&A with at a recent conference. Advisory firms that follow best practices, supply timely disclosure and work with law enforcement are unlikely to have an enforcement action imposed on them just for being a victim of a cyberattack, Crenshaw said. "Our goal certainly is not to be adversarial with any registrant, plain and simple," she remarked.

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