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Alternative Market Briefing

AIMA also issues guide on cybersecurity for hedge fund firms

Thursday, October 08, 2015

Benedicte Gravrand, Opalesque Geneva:

Following the footsteps of the UK Hedge Fund Standards Board (HFSB), which added a Cyber Security Memo to its Toolbox in September, the Alternative Investment Management Association (AIMA), the global industry body representing alternative asset managers, has published new cyber security guidance for hedge fund firms and other asset managers. The Guide to Sound Practices for Cyber Security sets out a number of steps that firms should take in building up their cyber security defences.

AIMA CEO Jack Inglis said: "Technological advances have brought great efficiencies to investment managers, but not without introducing new and unexpected risks. Cyber security is one of the biggest challenges facing all kinds of businesses today, and yet until now there has been very little guidance tailored to asset management firms in general, and hedge fund firms and other alternative asset managers in particular. This has raised questions both about fund managers’ understanding of the various cyber security-related issues and how their businesses could be impacted as well as their overall level of preparedness.

  "What is obvious is that vigilance and preparedness is key. With this Guide to Sound Practices, ......................

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