PANews reported on February 20 that according to an official announcement, the U.S. Securities and Exchange Commission today announced the establishment of the Cyber and Emerging Technology Unit (CETU), which focuses on combating cyber-related misconduct and protecting retail investors from bad actors in the emerging technology field. Led by Laura D'Allaird, CETU replaced the Crypto Assets and Cyber Unit and is composed of about 30 fraud experts and lawyers from multiple SEC offices.

Specifically, CETU will leverage its staff’s extensive fintech and cyber-related experience to combat securities trading-related misconduct in the following priority areas:

• Fraud using emerging technologies such as artificial intelligence and machine learning
• Using social media, the dark web or fake websites to commit fraud
• Obtaining material non-public information through hacking
• Takeover of Retail Brokerage Accounts
• Fraud involving blockchain technology and crypto assets
• Compliance by regulated entities with cybersecurity rules and regulations
• Fraudulent disclosure of cybersecurity by listed companies