Wealth managers face complex cybersecurity regulations. Here’s how to cope.

RIAs have always had a fiduciary responsibility to clients, businesses and stakeholders. But with the SEC’s changes to Regulation SP, the potential repercussions of a recent Supreme Court ruling, and the growing number of cyber crimes on firms, their hands as cyber fiduciaries are being forced.

The revised SP regulation published in May requires RIAs and other covered institutions to add incident response programs to their cybersecurity manuals that are “reasonably designed to detect, respond to, and recover from unauthorized…