Clifford Chance

SEC Announces Creation of Cyber Unit

3 October 2017

Following the announcement of its own data breach, on September 25, 2017, the SEC announced a new enforcement initiative that will target cyber-related threats.  SEC Chair Jay Clayton has made it clear that he views the SEC's mission as focused on "Main Street investor[s]" and he has indicated that he is "not confident that the Main Street investor has received a sufficient package of information . . .  to understand the substantial risks resulting from cybersecurity and related issues."  Accordingly, this new unit will focus on targeting cyber-related misconduct.

Download PDF