SEC Creates New Emerging Threats Exam Team

The EERT will help ensure, through examinations and other firm engagement and monitoring activities, that firms are better prepared to address exigent threats, incidents, and emerging risks.

The EERT will also work with OCIE staff to provide expertise and support in response to significant market events that could have a systemic impact or that place investor assets at risk, such as exchange outages, liquidity events, and cybersecurity or operational resiliency concerns.

Storch previously served as a senior advisor to the director of OCIE, where he focused on risk, strategy, and innovation.

"The EERT will assist OCIE in the fulfillment of its mission, including protecting the clients and customers firms serve, and enhance its ability to effectively respond to exigent threats and incidents in our markets," said OCIE Director Peter Driscoll, in a statement. "Adam brings a wealth of valuable experience, understanding of risks, and a background ideally suited to develop and lead this unit."

SEC Chairman Jay Clayton added in the statement that "as recent events have demonstrated once again, market and operational risks can emerge suddenly. We should be working to increase our ability to react, including bringing our various resources to bear to these situations."

Marc Berger, director of the SEC's New York Regional Office, added that EERT "will work alongside the many dedicated OCIE examiners across the country to quickly address critical market events."