Our goal is to help people in the best way possible. This is a basic principle in every case and cause for success. contact us today for a free consultation.
Newsletter
Sign up to our newsletter
Market Segment
Given the evolving nature, increasing frequency and increasing complexity of cybersecurity attacks, as well as the potential to harm investors, firms and markets, cybersecurity practices are a key focus for companies and FINRA.
FINRA evaluates companies’ approaches to cyber security risk management by reviewing their controls in areas such as technology governance, risk assessment, technical controls, access management, incident response, vendor management, data loss prevention, system change management, branch controls and personnel training. Through these reviews, FINRA also assesses a firm’s ability to protect the confidentiality, integrity, and availability of sensitive customer information.
As markets become more global and complex, threats through cyber intrusion, denial-of-service attacks, manipulation, insider abuse and other cyber exploits are also increasing. In the United States. Cybersecurity-related issues are the responsibility of many government agencies, including the SEC. Cybersecurity is also the responsibility of every market participant. The SEC is committed to working with federal and local partners, market participants and others to monitor developments and respond effectively to cyber threats.
Incompatibility is a factor that may make some companies unwilling to work with certain other companies. They may decide they don’t want to associate with organizations that don’t comply with the latest security measures that put everyone at risk. In turn, non-compliant business loses revenue and vital partnerships. Trade secrets, industry best practices, and proprietary information are all examples of valuable intellectual property and can be devastating if leaked.
Identify Risks – Once you know the importance of cybersecurity, you can ask yourself other questions about improving your current system. How do you identify risk factors that may affect your business? How do certain organizational structures and systems, such as the Internet of Things (IoT), make you more or less vulnerable to cyber attacks? One of the first steps is to identify confidential, high-level information in your business. Trade secrets, industry best practices, and proprietary information are all examples of valuable intellectual property and can be devastating if leaked. Knowing where this information is stored, both digitally and physically, is equally important for ensuring security. Some manufacturers may place more emphasis on protecting digital locations than physical ones, but both require constant monitoring.
Ransomware attacks are increasing in scale, complexity, and frequency, and are victimizing governments, individuals, and private companies around the world. The Cybersecurity and Infrastructure Security Agency (CISA) has launched a one-stop resource for individuals and organizations of all sizes to reduce the risks of ransomware attacks and increase their cybersecurity resilience. This brings together the tools and resources of multiple federal government agencies under one online platform. Learn more about how ransomware works, how to protect yourself, how to report an incident, and how to seek technical assistance.
Investors are increasingly relying on the internet to open investment accounts, control their assets and trade securities. The SEC provides valuable guidance, including an Investor Alert and Investor Newsletter, to help investors stay informed and protect themselves from cyber threats.
While protecting client data should be a priority, cyber attacks also could affect the investments they make on behalf of their clients. Basically, some companies may be more prone to costly cyber attacks than others.
Our goal is to help people in the best way possible. This is a basic principle in every case and cause for success. contact us today for a free consultation.
Sign up to our newsletter