The SEC created an "Event and Emerging Risks Examination Team" ("EERT") under the Office of Compliance Inspections and Examinations ("OCIE"). The new team was formed to better prepare firms "to address exigent threats, incidents, and emerging risks."
The EERT team will focus on (i) identifying examination priorities that will help to ensure that firms are able to address market risks and (ii) providing support during events that have a systemic impact on the market; e.g., "exchange outages, liquidity events, and cybersecurity or operational resiliency."
The SEC named Adam D. Storch as the Associate Director of EERT. Mr. Storch was the former Managing Executive and Chief Operating Officer of the Division of Enforcement, and most recently served as Senior Advisor to the Director of OCIE.
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