As consultants, we can’t emphasize enough the importance of having a proactive cyber security program that is specifically tailored to protect disruption of critical systems as well as protection of sensitive data for both the firm and its customers.
As technology continues to advance and broker-dealers become increasingly more dependent on it, the topic of cybersecurity has been pushed to the forefront in the financial industry. The nature of the industry requires broker-dealers to maintain records of client sensitive information including, but not limited to the following: account numbers, social security numbers, licenses, and financial condition. If any of this information is compromised from an outside source, not only will the investor suffer but the broker-dealer may also suffer. Read More…