SEC Announces Second Wave of Cyber Exams of Broker Dealers and Advisors – Is Your Firm Ready?

In April 2014, the Securities and Exchange Commission’s (“SEC”) Office of Compliance Inspections and Examinations (“OCIE”) issued a Risk Alert announcing its first cybersecurity sweep initiative. Pursuant to that initiative, the OCIE conducted an examination sweep of 57 registered broker-dealers … Continue reading

Posted in Cyber Security, Data Protection, Government Regulations, SEC

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Government Websites With Cybersecurity Tips & Information

As part of the government’s recent clarion call to improve our individual and collective cybersecurity posture, several federal and state agencies have released a variety of guidelines, frameworks, best practices and tips.  Some are more helpful than others.  Much of it … Continue reading

Posted in Cyber Security, Data Breach, Data Protection, FCC, FTC, Government Regulations, SEC

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Brokers Beware: Will the SEC Extend New Cyber Guidance to Brokers and Investment Advisers?

Against the backdrop of a steady stream of cyber-attacks and data breaches, Securities and Exchange Commissioner Luis A. Aguilar recently spoke about his hope to expand upcoming SEC cyber security guidance, known as Regulation Systems Compliance and Integrity (“Reg SCI”), … Continue reading

Posted in Cyber Security, Data Protection, Government Regulations, SEC

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FINRA Fines Financial Firm for Failing to Encrypt Customer Data on Lost Laptop

Like other federal agencies exercising regulatory power in the data privacy and security arena, the Financial Industry Regulatory Authority (“FINRA”) is cracking down on firms that fail to meet required data security practices. Recently, FINRA imposed a significant  fine upon a regulated … Continue reading

Posted in Cyber Security, Data Breach, Data Protection, Government Regulations, SEC, Uncategorized

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New Guidance from the SEC: Cyber Security Best Practices

On April 28, 2015, the U.S. Securities and Exchange Commission’s Division of Investment Management (the “Division”) issued a Guidance Update to investment and fund advisers on the topic of improving cyber security. While it is titled only as “Guidance”, firms … Continue reading

Posted in Cyber Security, Data Protection, Government Regulations, SEC

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SEC Report: Just How Prepared are Broker-Dealers and Advisors for Cyber- Attacks?

On February 3, 2015, the Securities and Exchange Commission’s (“SEC”) Office of Compliance Inspections and Examinations (“OCIE”) published a highly-anticipated summary of its examination sweep of 57 registered broker-dealers and 49 registered investment advisors from a cross-section of the financial … Continue reading

Posted in Cyber Security, Government Regulations, SEC

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