Cybersecurity breaches can cause untold financial and reputational damage, spawn private litigation and draw adverse regulatory scrutiny. A recent webinar sponsored by Backstop Solutions Group reviewed the evolving cyber threat landscape and related regulatory environment, and suggested tools to mitigate vendor risks and ensure appropriate cybersecurity governance and employee training. The program, “Cybersecurity – Protecting Investor Data,” was moderated by Chris DeNigris, a Backstop manager. It featured Kevin Holl, vice president at Evanston Capital Management; Natasha G. Kohne, a partner at Akin Gump; and Michael Neuman, a Backstop vice president. This article summarizes the primary takeaways from the discussion. See “How Hedge Fund Managers Can Meet the Cybersecurity Challenge: A Snapshot of the Regulatory Landscape (Part One of Two)” (Dec. 3, 2015); and “Benchmarking and Best Practices for Hedge Fund Manager Cybersecurity” (Feb. 5, 2015).