FINRA Conducting Cyber-Security Sweep Exam

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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.

Topics:  Broker-Dealer, Compliance, Cyber Attacks, Cybersecurity, Data Protection, FINRA, Risk Management

Published In: Finance & Banking Updates, Privacy Updates, Science, Computers & Technology Updates, Securities Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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