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Securities and Exchange Commission (SEC) has announced the creation of the Cyber and Emerging Technologies Unit (CETU), a specialized task force aimed at cracking down on cyber-related misconduct and safeguarding retail investors from evolving digital threats. According to Acting Chairman Mark Uyeda, the unit will safeguard investors and support capital formation and market efficiency by paving the way for innovation to thrive. He also noted that it would eliminate those attempting to misuse innovation to harm investors and erode confidence in new technologies. Laura D’Allaird takes charge of the new SEC unit  The new division will be headed by Laura D’Allaird and replace the former Crypto Assets and Cyber Unit. D’Allaird has been at the SEC for several years in various enforcement roles. The CETU comprises approximately 30 fraud specialists and attorneys across SEC offices. The Cyber and Emerging Technologies Unit’s mission includes identifying and eliminating cyber threats that exploit emerging technologies such as artificial intelligence and blockchain. According to Uyeda, the unit will play a critical role in enforcing regulations while fostering market confidence. CETU’s focus encompasses hacking attempts against nonpublic financial information, unauthorized takeovers of retail brokerage accounts, fraud in blockchain technology and crypto assets, cybersecurity compliance deficiencies among regulated entities, and misleading disclosures concerning cybersecurity risks by public companies. Uyeda noted that the new unit would also parallel Commissioner Hester Peirce‘s work within the newly formed Crypto Task Force. As recently as last month, Peirce laid out her priorities for that task force, including classifying certain tokens as “non-securities.” Following the new Trump administration’s taking office, the SEC has embarked upon a regulatory change distinct from that of former Chair Gary Gensler. The agency had previously expressed skepticism about crypto and argued that many cryptocurrencies are actually securities. In forming Peirce’s task force, the agency said its…

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Filed under: News - @ February 20, 2025 8:24 pm