The Depository Trust & Clearing Corporation issued a survey of its members conducted during the first quarter of 2015 that indicated that cyber risk was the greatest concern – outflanking concern about geopolitical risk and the impact of new regulations. Forty-six percent of respondents voted cyber threats as their greatest concern, as opposed to thirty-three percent in September 2014. Earlier this year, both the Office of Compliance Inspections and Examinations and the Financial Industry Regulatory Authority published observations from their review of cybersecurity practices at securities industry firms — on both the buy and sell sides. FINRA also identified principles and effective practices firms should consider to address cybersecurity threats. (Click here for details in the article, “Industry Watchdogs Warn Brokers and Advisory Firms on Cybersecurity Threats” in the February 8, 2015 edition of Bridging the Week.) More recently, the SEC's Division of Investment Management also issued guidance to registered investment companies and advisers regarding cybersecurity.