
Over the last several months, the SEC’s Office of Compliance Inspections and Examinations (“OCIE”) has been conducting a “sweep examination” of over 70 broker-dealers and investment advisers to assess their cybersecurity policies and procedures. https://www.sec.gov/files/observations-from-cybersecurity-examinations.pdf. In particular, OCIE looked at their preparedness regarding governance and risk assessment; access rights and controls; data loss prevention;