By Will R. Daugherty and Caroline B. Brackeen on Posted in Financial Privacy
The Financial Industry Regulatory Authority (FINRA) has issued its “Report on Selected Cybersecurity Practices – 2018” to provide further guidance to broker-dealer firms in developing and improving their cybersecurity programs. The report piggybacks on FINRA’s 2015 “Report on Cybersecurity Practices” by identifying five common cybersecurity risks and outlining recommended practices addressing these risks: • Branch … Continue Reading
On Jan. 18, 2017, the Financial Industry Regulatory Authority (FINRA) became the latest organization to weigh in on distributed ledger technology (DLT), also known as blockchain. Recognizing the growing interest and potential benefits surrounding the implementation of DLT, FINRA published a report examining the impact of blockchain on the financial services industry. Blockchain is essentially … Continue Reading
According to a 2015 report on threats to the financial services sector, 41% of financial services organizations polled had experienced a data breach or failed a compliance audit in the previous year, and 57% listed preventing a data breach as their top IT priority. Reflecting the ever-increasing awareness of threats to financial data security, 2015 … Continue Reading
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
