States Are Cracking Down on Firms’ Cybersecurity Practices, After Finding 590 Deficiencies During 1,200 Exams Last Year
This has caused the North American Securities Administrators Association to request a new rule proposal on stricter cybersecurity requirements for state-registered investment advisers. You do not want to fall into the category of being cybersecurity deficient. To mitigate risks, you must ensure you have all policies and procedures up to date on an annual basis. You have until November 26, 2018 to publicly comment on the proposal. To see how you can stay compliant, Read more >
SEC Commish Calls for Stricter Cybersecurity Standards for FAs
Do you think your business needs to be held to higher standards when it comes to cybersecurity? What if you knew cybercrime was projected to cost businesses over 8 trillion over the next five years? We are in a world where fintech firms have emerged but with techfin firms now entering the financial sector they can gather their pre-existing client data into financial services businesses, raising consequences for BDs, IAs, fintech startups and regulators. It’s in your best interest to step up cybersecurity within your firm. Read more here and here.
Fintech - where the original financial system is improved upon using technology.
Techfin - where Tech companies provide financial services with a more customer & technology centric approach.
Read more on the differences between Fintech and Techfin here.