Cybersecurity Still Top Compliance Concern for Advisors: Poll

Cybersecurity remains the top concern for registered investment advisors, with 86% of respondents in a just-released poll by the Investment Adviser Association flagging “cybersecurity/privacy/identity theft” as their “hottest” compliance topic for the fourth year. 

The 2017 Investment Management Compliance Testing Survey, released Tuesday and conducted jointly by the IAA, ACA Compliance Group, and OMAM, a global multi-boutique asset management company, polled 599 advisors in April and May on their biggest compliance headaches.

Compliance with the Securities and Exchange Commission’s Custody Rule was the second hottest compliance topic (26%) after cybersecurity – which IAA said was “not surprising” given concerns raised by recent SEC staff guidance about the rule. MORE