Compliance » SEC Takes Another Look At Broker-Dealer Cybersecurity

SEC Takes Another Look At Broker-Dealer Cybersecurity

September 28, 2015

The SEC has announced that its Office of Compliance Inspections and Examinations (OCIE) will start a second round of cybersecurity examinations at registered broker-dealers. The first round, which targeted more than 100  firms, consisted of interviews and looking at documents, but this round will include actual testing of controls and procedures. A post from Proskauer Rose details some of the key areas that will be addressed. They range from the most basic – how firms verify authenticity of client requests to transfer funds – to the more complex and open-ended, such as training, incident response, and due diligence on vendors.

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