The Securities and Exchange Commission (SEC) Division of Investment Management has published a guidance update setting forth cybersecurity concerns and advice for the investment companies and advisers it regulates, JD Supra reports. The SEC specifically suggests conducting a periodic assessment of the nature, sensitivity and location of information collected and the security controls and processes in place, and recommends creating and implementing a comprehensive strategy to prevent, detect and respond to cybersecurity threats, the report states, noting the strategy could include data encryption, an incident-response plan and data backup and retrieval. The SEC recommends implementing the cybersecurity strategy “through written policies and procedures and training programs,” the report states.
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