HFA Symposium Offers Perspectives From Cybersecurity Industry Professionals on Preparedness, Vendor Management, Cyber Insurance and Cloud Services

Cybersecurity remains a hot topic for regulators and investors alike. See “SEC Enforcement Action Illustrates Focus on Investment Adviser Obligation to Secure Client Information” (Jun. 23, 2016). The Hedge Fund Association (HFA) recently presented its Cybersecurity Challenges and Solutions for Emerging Managers symposium, which covered the basics of cybersecurity preparedness, responding to cyber incidents, vendor management, cyber insurance and cloud services. Robert G. Sawyer, a partner at law firm Foley Hoag and regional director of the HFA, moderated the discussion, which featured Colin J. Zick, a partner at Foley Hoag; Rob Fitzgerald, a principal consultant at cybersecurity firm Mandiant/FireEye; William M. Steers, principal/president of global insurance brokerage Gunn, Steers & Company, LLC; and Frederick Howell, Jr., a manager at tax and consulting firm RSM US LLP. This article summarizes the key insights from the symposium. For coverage of another recent HFA program, see our two-part series on the recent Global Regulatory Briefing, offering insight from U.S., U.K. and offshore regulators: “Best Ways for Hedge Fund Managers to Approach Regulation” (May 12, 2016); and “Views on Cybersecurity, AML, AIFMD, Advertising and Liquidity Issues Affecting Hedge Fund Managers” (May 19, 2016).

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