The latest update of the SEC’s rulemaking agenda indicates it will finalize new rules around cyber risk management for funds and investment advisors in the spring of 2023. The rules, first proposed in early 2022, will be implemented immediately but will likely be phased in over a period of months this year.

Across industries, competition for cybersecurity talent is stiff— thousands of companies seek to hire cybersecurity professionals, yet the global cybersecurity workforce is short 2.72 million workers. The cybersecurity talent pool would have to grow by 65% to meet this demand.