The SEC has announced the launch of a new unit, CETU, aimed at combating cybercrime and fraud in the tech sector.
CETU's Responsibilities
CETU is tasked with addressing fraud fueled by AI and machine learning, deceptive schemes on social media and the dark web, and hacks for sensitive financial data. Retail brokerage account takeovers and crypto scams are also under scrutiny.
Leadership and SEC Changes
Laura D'Allaird leads the CETU. She has been with the SEC for years, serving as co-chief of the now-defunct Crypto Assets and Cyber Unit. Since January, the SEC has undergone changes, including restructuring under the leadership of Mark Uyeda as acting chairman.
SEC's Plans and Directions
Amid SEC's restructuring, there's a focus on crypto market regulation. Closing the dedicated crypto enforcement unit and developing a new structure are steps towards tighter control over innovation and deterrence of malpractice.
These changes emphasize SEC's clear stance: innovation is welcome, but bad actors exploiting new technologies will not go unpunished.
