Regulatory Alerts2022-03-09 | 2022-03145Added · Updated
Cybersecurity Risk Management for Investment Advisers, Registered Investment Companies, and Business Development Companies
The Securities and Exchange Commission proposes new rules under the Investment Advisers Act and the Investment Company Act requiring registered investment advisers and investment companies to adopt and implement written cybersecurity policies and procedures reasonably designed to address cybersecurity risks. The proposal also introduces a new rule and Form ADV-C to require advisers to report significant cybersecurity incidents affecting the adviser, its funds, or private fund clients to the Commission. Additionally, the document proposes amendments to various disclosure forms, including Form ADV and fund registration statements, to enhance transparency regarding significant cybersecurity risks and incidents, alongside new recordkeeping requirements.
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