IAA Initial Statement on SEC Cybersecurity Proposal
February 9, 2022
IAA Manager, Marketing & Communications Meredith Wise.
Washington, DC (February 9, 2022) – Following is the initial statement of Investment Adviser Association President & CEO Karen Barr on the SEC’s proposed cybersecurity rule:
Cybersecurity is a critically important issue for investment advisers and their clients. Our members take their cybersecurity responsibilities very seriously and want to get it right.
We welcome the SEC’s thoughtful consideration of ways to reduce cybersecurity-related risks and look forward to analyzing the proposal carefully. We appreciate the SEC’s recognition that an adviser’s policies and procedures should be calibrated based on its business, size, and risks.
Preliminarily, we expect to have questions around the challenges and implications of reporting significant cybersecurity incidents to the SEC in such a short timeframe.
About the Investment Adviser Association
As the leading organization for fiduciary investment advisers, the IAA advances the interests of member firms by providing essential expertise, crucial connections, and powerful advocacy tailored to their needs. Together, the IAA’s members manage more than $35 trillion in assets for a wide variety of clients, including individuals, trusts, investment companies, private funds, pension plans, state and local governments, endowments, foundations, and corporations. For more information, visit investmentadviser.org or follow us on LinkedIn, Twitter, and YouTube.