New York partner Kay Gordon was quoted in an HFMTechnology article titled, “MFA: Give regulators slice of Obama cyber-security fund.” The article discusses Obama’s latest proposals amid a heightened focus on cyber-security by both government bodies and financial regulators, which has resulted in the SEC putting intense and prolonged pressure on investment advisers to invest more in cyber-security defences.

Kay told HFMTechnology, “The SEC has waged a big campaign to make hedge funds improve cyber-security defences, while also increasing the amount of confidential information they report through things such as Form PF and proposed amendments to managed account reporting in Form ADV.”

“That campaign would be heavily undermined if it transpired that the regulator’s cyber-security defences were not as strong as the funds they are supervising. Regulators have to store that sensitive information somewhere which makes them a target, so if they were breached it could not only cause sensitive information to fall into the wrong hands but would also mean serious reputational damage to regulators,” Kay added.

Read, "MFA: Give regulators slice of Obama cyber-security fund"