cyber-attacks Archives - MasterCompliance

Data Storage and Cybersecurity Best Practices

Posted on November 30, 2023 by SCM Communications

Broker Dealers and Registered Investment Advisors (“RIAs”) live in a time of data threats from all angles. The financial services industry is faced with many unique requirements for storing sensitive client data for extended timeframes, and by doing so, the industry has become a primary and lucrative target for scammers. The following practices help ensure that access and data integrity is controlled and tracked properly. Cybercriminals are constantly developing new ways to infiltrate systems, and the only way to mitigate the threat is to keep evaluating what your broker dealer or RIA can control and improve what it cannot control Read more about Data Storage and Cybersecurity Best Practices[…]

Cybersecurity Training for Employees

Posted on March 11, 2021 by admin

The Covid-19 Pandemic has affected everyone, forcing many to work from home and causing an increase in the use of virtual environments. With it comes a rise in cyber-attacks, as hackers take advantage of the confusion and peoples lack of preparation to break into company networks, and trick people into revealing sensitive information. This blog post will discuss some of the common areas of deficiencies for firm’s cybersecurity training programs, and a few tips for improving those programs to keep your firm and employees protected.

COVID-19 and Fixed Income Update

Posted on March 11, 2021March 11, 2021 by admin

FINRA Rule 2232 requires firms to provide retail customers with mark-up disclosure (and other related disclosures) for trades in corporate and agency debt securities that firms offset on the same day with other principal trades in the same security. Disclosed mark-ups must be calculated from a security’s Prevailing Market Price (PMP), consistent with FINRA Rule 2121 and applicable FAQ guidance. On April 24, 2020 FINRA released a very valuable FAQ on Fixed Income Mark-up Disclosure with important updates related to disclosure requirements for broker dealers. Broker dealers and their employees are braving a whole new world with various work from home and virtual meeting and operations challenges. FINRA makes updates to the FAQ’s so it is important to check back often for the most up to date information.