TechFlow news, on February 20, according to an official announcement, the U.S. Securities and Exchange Commission (SEC) has established the Cyber and Emerging Technology Unit (CETU), focusing on combating cyber-related misconduct and protecting retail investors from bad actors in emerging technology sectors. The unit is led by Chief Laura D'Allaird, replacing the former Crypto Assets and Cyber Unit, and consists of approximately 30 anti-fraud experts and attorneys distributed across multiple SEC offices.
Acting Chair Mark T. Uyeda stated that the new unit will complement the cryptocurrency task force led by Hester Peirce. CETU will focus on enforcing violations in seven key areas: fraud involving emerging technologies such as AI, fraud via social media and the dark web, hackers obtaining material nonpublic information, takeovers of retail brokerage accounts, fraud involving blockchain and crypto assets, cybersecurity compliance oversight, and false disclosures of cybersecurity information by public companies.
