FINRA Conducting Cyber-Security Sweep Exam


Reacting in part to recent data-breaches and cyber-attacks on larger retailers, the Financial Industry Regulatory Authority (“FINRA”) is conducting a targeted examination of some 20 broker-dealer member firms’ compliance and risk-management approaches to cyber-security, aimed at increasing regulators’ understanding of the cyber-security risk environment and various approaches and methods used throughout the industry.  Wall Street conducted its second comprehensive cyber-security drill, Quantum Dawn 2, just this past July.  The after-action study and related materials can be found at the Securities Industry and Financial Markets Association’s Cyber-Security Resource Center, here.

FINRA’s announcement is here.

FINRA’s Sweep Letter is here.