Preparing for New Regulation A Review of the SEC’s Proposed Cybersecurity RulesIntroduction In recent years, the frequency and severity of cybersecurity breaches have increased exponentially, with more companies experiencing costly and reputation-damaging incidents. The Securities and Exchange Commission (SEC) has taken notice and proposed new rules and amendments that would require public companies, registered investment advisers, and registered investment companies to enhance and standardize their cybersecurity risk management, strategy, governance, and incident reporting. The proposed rules make cybersecurity mission-critical for senior executives and boards of directors, as the lack of transparency of cyber risk will no longer be acceptable. While it is still uncertain what the

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