In a latest update, the Securities and Exchange Commission today announced the creation of the Cyber and Emerging Technologies Unit (CETU) to focus on combatting cyber-related misconduct and to protect 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 specialists and attorneys across multiple SEC offices.
“Under Laura’s leadership, this new unit will complement the work of the Crypto Task Force led by Commissioner Hester Peirce. Importantly, the new unit will also allow the SEC to deploy enforcement resources judiciously,” stated Acting Chairman Mark T. Uyeda.
The SEC’s new Cyber and Emerging Technologies Unit (CETU) is designed to protect investors and promote innovation. The unit will focus on stopping fraud involving emerging technologies like AI, blockchain, and crypto. It will target issues such as fraud through social media, hacking for private information, and takeovers of brokerage accounts. CETU will also ensure that companies comply with cybersecurity rules and prevent false cybersecurity disclosures. The goal is to keep the market safe while allowing new technologies to grow.
