Cybersecurity, Privacy and Data Protection > AG Data Dive > Lessons for Private Fund Managers from Three SEC Cyber Enforcement Actions
08 Sep '21

Akin Gump published a client alert on the Securities and Exchange Commission announcing three enforcement actions against registered investment advisers for alleged cybersecurity failures involving cloud-based email systems. All three actions (which were settled) imposed six-figure penalties on the advisers, despite the Staff’s acknowledgement that none of the actions resulted in any unauthorized trades or fund transfers to unauthorized parties for any client accounts and despite the relatively small number of clients involved.

To read the full alert, please click here.