Directors should be assessing cybersecurity risks within their general risk management responsibility that comes with being a director. Many private equity fund boards have separate risk meetings or, if not, they certainly form part of their quarterly board meetings. Directors should be considering and enquiring after how a fund’s digital and electronic processes are set up and monitored, not just at the fund manager level but also at the fund administration level. Cybersecurity risks now have to be part of a fund’s ongoing risk assessment.
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