Financial Firms Face Further Scrutiny OF Their Cybersecurity Practices — Is Your Firm Ready?

On September 15, 2015, the SEC issued a new Risk Alert on cybersecurity that registered Broker-dealers and Investment Advisors need to review closely.  This latest alert by the SEC's Office of Compliance Inspections and Examinations (OCIE) follows an announcement in April 2014 that it would examine the securities industry to identify cybersecurity risks and assess preparedness of Advisors and Broker-dealers. The initial findings from these exams were published in February 2015.

This white paper provides real world examples of where firms are failing to meet the requirements laid out by the SEC's Office of Compliance Inspections and Examinations September 2015 Risk Alert, and offers tips and recommendations to help firms avoid the same mistakes.