Business Continuity Planning/Cybersecurity

You better know what ‘quishing’ is

Broker-Dealers

Hugh Kennedy -

July 3 2024

FINRA suggests broker-dealers need to make sure their IT personnel are aware of the quishing attack vector

Masked thief wearing all black steals computer secrets or commits identity theft on an office or home laptop computer. Cyper crimes concept.

Featured

Six ransomware lessons from cybersecurity case

Carl Ayers -

June 27 2024

A new SEC enforcement case contains lessons on what not to do if your firm suffers a ransomware attack

IA Speeches

SEC Commissioner Peirce, Uyeda take issue with cyber case against adviser

Carl Ayers -

June 20 2024

"Also concerning is the Commission’s decision to stretch the law to punish a company that was the victim of a cyberattack. While an enforcement action may be warranted in some circumstances, distorting a statutory provision to form the basis for such an action inappropriately amplifies a company’s harm from a cyberattack"

Two female programmers working on new project.They working late at night at the office.

IA Rules & Regulatory Actions

Firm fined $2.1M for cybersecurity shortfalls, cyber lessons

Carl Ayers -

June 18 2024

The "threat actor was able to utilize deceptive hacking techniques to install encryption software on certain" of the adviser's "computers (mostly virtual machines) and exfiltrated 70 Gigabytes of data, including data belonging to 29" clients, some of which contained personal identification and financial information

About this page

The SEC is on the record: a firm’s compliance P&Ps should cover business continuity plans. How you address the critical issue of your firm’s BCP, however, is for the most part up to you. Your cybersecurity approach also dovetails with your BCP. In this collection you can find our continuously updated BCP/Cyber news, analysis, “best practices” tips, compliance P&Ps, templates, matrices and more.

SEC’s proposed cybersecurity rule for IAs