Recently a few of our clients were recipients of phishing email leveraging scare tactics, also known as the Phantom Extortion Scam. This scam involves cyber criminals sending fake emails or messages to individuals or businesses, claiming that there has been a security breach or incident involving sensitive client or organization data. The cyber criminals then
Earlier today the Securities and Exchange Commission voted to propose rules related to cybersecurity risk management for registered investment advisers, and registered investment companies and business development companies (funds), as well as amendments to certain rules that govern investment adviser and fund disclosures. The SEC Chair Gary Genlser stated that the proposed rules and amendments
In October 2021, the Federal Trade Commission (FTC) stated that it would expand its Safeguards Rule in order to better protect consumer financial information from cyber attacks and security breaches. The revised Rule requirements will take effect on December 9, 2022. This is a significant development for private funds that were previously exempt from the
