U.S. SEC Announces Creation of Division of Cyber and Emerging Technologies to Replace Division of Crypto Assets and Networks

The U.S. Securities and Exchange Commission (SEC) today announced the creation of the Cyber and Emerging Technologies Unit (CETU) to focus on combating cyber-related misconduct and protecting retail investors from bad actors in the emerging technologies space. The CETU, led by Laura D'Allaird, replaces the Crypto Assets and Cyber Unit and is comprised of approximately 30 fraud experts and attorneys from multiple SEC offices.
Specifically, the CETU will leverage the staff's extensive fintech and cyber-related experience to combat misconduct related to securities trading in the following priority areas
Fraud committed using emerging technologies such as artificial intelligence and machine learning;
Fraud perpetrated using social media, dark web or fake websites;
Hacking to obtain material non-public information;
Acquisitions of retail brokerage accounts;
Fraud involving blockchain technology and crypto assets;
Regulated entities' compliance with cybersecurity rules and regulations;
Fraudulent disclosures by public issuers related to cybersecurity.