As part of the fight against cybercrime, the SEC will create a unit that, in particular, will deal with violations related to distributed register technology and the field of initial coin offering.
News release: SEC Announces Enforcement Initiatives to Combat Cyber-Based Threats and Protect Retail Investors https://t.co/u9bUS0ChBL
— SEC_News (@SEC_News) 25 сентября 2017 г.
As it is reported in press release, The Cyber Unit will focus the Enforcement Division’s substantial cyber-related expertise on targeting cyber-related misconduct, such as:
- Market manipulation schemes involving false information spread through electronic and social media
- Hacking to obtain material nonpublic information
- Violations involving distributed ledger technology and initial coin offerings
- Misconduct perpetrated using the dark web
- Intrusions into retail brokerage accounts
- Cyber-related threats to trading platforms and other critical market infrastructure
Cyber-related threats and misconduct are among the greatest risks facing investors and the securities industry. The Cyber Unit will enhance our ability to detect and investigate cyber threats through increasing expertise in an area of critical national importance.
Co-Director, SEC’s Enforcement Division
The new unit will be led by former Co-Head of the Department for Combating Market Abuse of the SEC Robert Cohen. The new structure will also focus on problems that, in the opinion of the Commission, are often associated with crypto-currencies, namely, market manipulation and theft of confidential information.