Securities and Exchange Commission March 9, 2022 – Federal Register Recent Federal Regulation Documents

The Securities and Exchange Commission is proposing new rules under the Investment Advisers Act of 1940 (``Advisers Act'') and the Investment Company Act of 1940 (``Investment Company Act'') to require registered investment advisers (``advisers'') and investment companies (``funds'') to adopt and implement written cybersecurity policies and procedures reasonably designed to address cybersecurity risks. The Commission also is proposing a new rule and form under the Advisers Act to require advisers to report significant cybersecurity incidents affecting the adviser, or its fund or private fund clients, to the Commission. With respect to disclosure, the Commission is proposing amendments to various forms regarding the disclosure related to significant cybersecurity risks and cybersecurity incidents that affect advisers and funds and their clients and shareholders. Finally, we are proposing new recordkeeping requirements under the Advisers Act and Investment Company Act.