Cybersecurity Archives - Page 4 of 4

NASAA Proposes Information Security Rule for RIAs

Posted on October 17, 2018October 17, 2018 by SCM Communications

The North American Securities Administrators Association, Inc. (“NASAA”) is requesting public comment regarding a proposed model rule for information security and privacy for registered investment advisers (RIAs) under the Uniform Securities Acts Of 1956 And 2002. NASSA has been actively working on addressing various investment adviser-related cybersecurity concerns and desires for several years and has identified a significant need for more information and tools regarding cybersecurity.

Cybersecurity Programs Remain a Priority in 2018

Posted on July 12, 2018 by SCM Communications

Cybersecurity programs remain a significant priority for financial services industry regulators, including the SEC, FINRA, and state securities regulatory agencies. As mentioned in FINRA’s 2018 Annual Regulatory and Examination Priorities Letter, member firms need to have cybersecurity programs in place and such programs must capable of protecting sensitive information, including personally identifiable information of clients, from both internal and external threats. Over the past couple of years, awareness of cybersecurity risk has increased dramatically. However, as awareness increases, so does the sophistication of cybersecurity threats. And even a robust cybersecurity program can be compromised by something as simple as an employee opening an email attachment that contains malware. So, what can a firm do to combat phishing and spearphishing attacks, ransomware attacks, fraudulent third-party wires, etc.?

Cybersecurity Breaches: Post SEC & Equifax Hacks, Firms Should Revisit Their Cybersecurity Program

Posted on September 28, 2017July 12, 2018 by SCM Communications

Recently, two major cybersecurity breaches have been in the news which have been very unsettling for many Americans. First, Equifax, one of the nation’s largest credit bureaus, was hacked exposing 143 million people’s financial data. Second, the Securities and Exchange Commission’s (“SEC”) EDGAR filing system was hacked and it is believed that the hackers made off with information that was used to make money illegally in the stock market. Read More…

Cybersecurity for Broker-Dealers

Posted on June 3, 2016May 18, 2020 by admin

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…