Eversheds Sutherland Cybersecurity and Privacy Insights Blog
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Managing a Cyberattack: An Interactive Simulation at the ACC Advanced Compliance Education Summit

It is 3:00 in the morning and your children are safe in bed, but the phone is ringing at the FBI! Sutherland’s Mark Thibodeaux; Cyndi Baily, Chief Compliance Officer at Alere Toxicology; Sarah Sandstorm, Contracts Counsel at KBM Group; and Special Agent Corey Harris from the FBI presented an interactive simulation of a cyber-attack at the ACC’s Advanced Compliance Education Summit...

Hackers Gonna Hack—FINRA’s Report on Cybersecurity Practices Assists Firms in Responding to Threats

On February 3, 2015 the Financial Industry Regulatory Authority (FINRA) released its long-awaited Report on Cybersecurity Practices, a broad overview of the state of play in the cybersecurity arena for broker-dealers. (Although FINRA has examined only broker-dealers, its Report is helpful for the entire securities industry.) The Report is the culmination of FINRA’s 2014 targeted...

SEC and FINRA Exam Priorities

In their recent examination priorities letters, both the SEC and FINRA highlighted cybersecurity as an area of focus for 2015 exams. In the SEC letter, the Office of Compliance Inspections and Examinations (OCIE) explained that it will continue its 2014 initiative to examine broker-dealers’ and investment advisers’ cybersecurity compliance and controls, and also plans to expand the...

New NY Department of Financial Services Cybersecurity Examination Process

On December 10, 2014, New York State Department of Financial Services (DFS) Superintendent Benjamin M. Lawsky issued an industry guidance letter to all New York State chartered or licensed banking institutions announcing that DFS was expanding its examination procedures to increase its emphasis on cybersecurity and urging all institutions to make cybersecurity an “integral aspect of...

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