We have a lifeboat—but (oops!) it’s back at shore.
When it comes to lifeboats—and cyber-security policies—you don’t want to have an “oh shoot” moment.
Have you seen the recent announcements from the SEC’s OCIE Cybersecurity Risk Alert? It summarized observations from the OCIE’s second cybersecurity survey of financial services firms in relation to cybersecurity-related policies and vulnerability to attack. Many firms were doing some things right…but overall, there’s major room for improvement.
The good news included:
Here’s the not-so-good news:
Most of the firms had information protection policies that were too narrow, too vague or not properly enforced or maintained. A policy that doesn’t fit your firm may sound like it fits the bill, but when push comes to shove, it’s useless.
Best practices: What should your RIA do?
The OCIE encouraged all firms to:
Be honest with yourself…
Does your firm have policies somewhere on a shelf?
Are these policies actually specific to your RIA and the way you operate?
Are you actually implementing these policies?
If all of this feels like uncharted waters—let us help you navigate.
Our team of professionals has the right expertise to ensure your technology and cybersecurity complies with the strictest guidance and passes regulatory muster.
Active monitoring and implementation of cybersecurity protocols and procedures using leading edge technology keeps your business and your data safe and secure.