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The SEC’s Relentless Focus on Cybersecurity: After WannaCry, Head of Enforcement Says Cybersecurity Is the Greatest Threat to the Industry

By Nicolas Morgan, Robert Silvers, and Adam M. Reich

According to Steven Peikin, the newly named codirector of the Division of Enforcement for the U.S. Securities and Exchange Commission (‘‘SEC’’), ‘‘The greatest threat to our markets right now is the cyber threat.’’ On June 8, 2017, Mr. Peikin’s co-director, Stephanie Avakian, noted an ‘‘uptick’’ in cyber crime investigations by the SEC and also acknowledged concerns that ‘‘the cyber threat’’ to the nation’s markets and investors ‘‘will continue to emerge.’’