SEC Expands Cybersecurity Compliance Requirements for 2016

On January 11, 2016, the Securities and Exchange Commission announced the 2016 examination priorities list. For the third year in a row, cybersecurity is a top concern, especially with regard to internal security program assessment and evaluation.  This year the Office of Compliance Inspections and Examinations (“OCIE”) will focus on cybersecurity protocols implemented by financial firms to protect consumer information from cyberattack.  Investment advisors and broker dealers are forewarned that security is no longer an academic discussion and that OCIE examiners will ask hard questions regarding the effectiveness of protective procedures.  In addition, the agency will expect verified proof that safeguards designed to secure personal and sensitive information adequately defend against cyber threats and vulnerabilities.  If your firm has not yet responded and upgraded preparations please consider Advisor Armor. MORE

Mark Brown