Cybersecurity Issues Discussed at SEC Speaks
Posted on Mar 3, 2015 in Uncategorized | Comments Off on Cybersecurity Issues Discussed at SEC Speaks
During the Practicing Law Institute’s annual SEC Speaks conference last week, the SEC reiterated its commitment to focusing on cyber security issues in the coming year. SEC Commissioner Mary Jo White commended the examination staff of the Office of Compliance Inspections and Examinations (OCIE) for their efforts to broaden the SEC’s reach, specifically referencing their involvement in...
Hackers Gonna Hack—FINRA’s Report on Cybersecurity Practices Assists Firms in Responding to Threats
Posted on Feb 5, 2015 in Financial Services | Comments Off on 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 Releases Results of 2014 Cybersecurity Exam Sweep
Posted on Feb 4, 2015 in Financial Services | Comments Off on SEC Releases Results of 2014 Cybersecurity Exam Sweep
On February 3, the Securities and Exchange Commission (SEC) issued a Risk Alert prepared by its Office of Compliance Inspections and Examinations (OCIE) that summarizes the results of a sweep of more than 100 broker-dealers and investment advisers that OCIE undertook in 2014 in order to assess the level of cybersecurity preparedness of the examined firms. A list of questions that OCIE...
SEC and FINRA Exam Priorities
Posted on Feb 3, 2015 in Uncategorized | Comments Off on 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...
Cybersecurity Announced as a 2015 Exam Priority by the SEC and FINRA
Posted on Jan 23, 2015 in Uncategorized | Comments Off on Cybersecurity Announced as a 2015 Exam Priority by the SEC and FINRA
In January 2015, the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) each announced their 2015 examination priorities, and both agencies emphasized cybersecurity as a primary exam focus (SEC Examination Priorities, FINRA Examination Priorities). The SEC has designated cybersecurity as a market-wide risk in its examination priorities...
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