Jason Elmer is President, Drawbridge.
What were the key theme(s) for your business in 2022?
This year saw an immense uptick in investor pressure that drove cybersecurity software and solutions. The upcoming SEC mandate has forced funds to stop kicking the can down the road and begin to make decisions around what they will put in place for cybersecurity governance.
The SEC prioritized vendor oversight; phishing controls and training, operational resilience, ransomware prevention, work from home cyber policies and more in 2022. Next year, this is going to be expanded further to include risk assessments and vulnerability management as well as new topics such as board oversight, incident response within 48 hours and annual reviews that require enhanced reporting. As SEC’s Chair, Gary Gensler said in February: “The proposed rules and amendments are designed to enhance cybersecurity preparedness and could improve investor confidence in the resiliency of advisers and funds against cybersecurity threats and attacks.” This impacts funds of all sizes.
While companies will be able to outsource some of the technical controls…
