Andrew W. Reich

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FINRA Video Series Highlights Broker-Dealers’ Common Cybersecurity Deficiencies

In a series of three video programs published on the FINRA website in recent weeks, FINRA provided guidance on common deficiencies it has been seeing in its cybersecurity examinations of member firms, and recommended a number of measures to address these issues. Firms should heed these warnings both so that they are prepared for when FINRA … Continue Reading

Lost, Unencrypted Laptop Leads FINRA to Fine a Broker-Dealer $225,000 for Violating Reg S-P

With the recent focus by the SEC and FINRA on cybersecurity for broker-dealers and investment advisers as a backdrop, FINRA recently brought and settled an enforcement action under SEC Regulation S-P against broker-dealer Sterne, Agee & Leach, Inc. The case arose from a May 2014 incident in which a Sterne information technology employee inadvertently left … Continue Reading
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