Thursday; December 5, 2019

Workplace Cybersecurity Newscast

A Security News Roundup for Financial Advisors 

Cybersecurity is the Biggest Threat to the Broker-Dealer Industry: Sifma Execs
Financial Advisor: The threat of cybersecurity breaches is the biggest risk the broker-dealer industry faces, according to top Sifma executives.
“Nothing can strike at the heart of financial stability more than a broad-scale, broad-based cyberattack,” Sifma chairman Joseph Sweeney said last month at the Sifma Annual Meeting in Washington, D.C. when asked about the biggest threat to the industry.


The Five Pillars Of SEC Cybersecurity Requirements As A (Registered) Investment Adviser
Kitces Report: In this guest post, Patrick Cleary, Chief Operations Officer at Alpha Architect, uses the concept of “brilliance in the basics,” a core tenet in the Marine Corps, to explain how paying attention to basic (but important) details, being proactive, defining the specific reasons why cybersecurity is so crucial, and (most importantly) avoiding complacency at all costs, is at the core of any successful cybersecurity program for an advisory firm.


The cybersecurity defense advisors forget
FinancialPlanning: Wealth management firms are overlooking a crucial line of defense when it comes to cybersecurity: their own employees. “Criminals will always go for the humans first, and we as businesses tend to fund the training of our humans last,” said John Sileo, CEO of Sileo Group, a data security think tank.


Investment Advisor Cybersecurity: 16 Must-Know Recommendations
Align: When it comes to risk management and cybersecurity, Registered Investment Advisors (RIAs) can never be too prepared. In today's post, we've outlined sixteen (16) of the top security tips to help your firm maintain compliance with regulatory guidelines and safeguard your business from internal and external threats.


Brokers' Use of Texting, Social Media Cited in FINRA Exam Report
Think Advisor: Brokers’ impermissible use of texting, messaging or using social media apps like Facebook, WhatsApp and WeChat to communicate with clients topped recent exam findings in the Financial Industry Regulatory Authority’s just-released 2019 Report on FINRA Examination Findings and Observations.


Are financial advisors prepared for cyber attacks?
The SEC has released cybersecurity guidance for the registered investment advisers it oversees. The Financial Industry Regulatory Authority, which regulates broker-dealers, has also issued its own guidance that includes information for small firms with 150 or less registered representatives. The message: No firm is too small to have cybersecurity protections in place.


Cybersecurity Newscast provides top security news and information specific to the financial services industry. Through a variety of primary and secondary news sources, we aggregate relevant news and then determine the best stories to be featured by covering a mix of headline news as well as less reported, yet relevant news stories specific to security and compliance. 

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