McGuireWoods partners David Hirsch and Tara Bradley and associate Nathanael Williams wrote an Aug. 1, 2025, article for Law360 about a December deadline for investment advisers and broker-dealers to comply with new data breach regulations.
“The bottom line on compliance preparedness is that there is no better time than the present” to comply with amendments to the U.S. Securities and Exchange Commission’s Regulation S-P, the authors wrote.
The article, “Now Is the Time to Prep for SEC’s New Data Breach Regs,” focused on a recent speech by the acting director of the SEC’s Division of Examinations. The authors wrote that the speech was “significant beyond its specific content” because amendments to Regulation S-P were promulgated during the Biden administration, leaving a question as to how the Trump administration would view the changes.
While the speech included the familiar disclaimer that its contents reflected only the acting director’s “personal views and not those of the commission,” the authors noted, “the fact that an acting director publicly gave these remarks strongly suggests that the commission anticipates that these amendments will go into effect as scheduled and that the commission will support examining for compliance with their terms.”