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OCIE Risk Alert: common compliance program issues

OCIE Risk Alert: common compliance program issues WHAT HAPPENED? On Nov. 19, 2020, the Office of Compliance Inspections and Examinations of the U.S. Securities and Exchange Commission (OCIE) released a Risk Alert outlining common compliance concerns among registered investment advisers. The list was compiled based on recent compliance examinations [...]

ALERT: Phishing attack posing as FINRA survey

ALERT: Phishing attack posing as FINRA survey WHAT HAPPENED? The Office of Compliance Inspections and Examinations of the U.S. Securities and Exchange Commission (OCIE) was recently made aware of a phishing attempt which could affect broker-dealers, investment advisers, and investment companies. The attack came from bad actors, purporting to [...]

How to Identify and Avoid Vishing and Smishing Attacks

How to Identify and Avoid Vishing and Smishing Attacks WHAT HAPPENED? You likely have heard of phishing attacks, a type of social engineering scheme that tricks victims into clicking email links infected with malware, or into giving sensitive information to cybercriminals posing as a credible contact. Sophisticated attackers use [...]

5 Ways to Strengthen Your Firm’s Vendor Management Program

5 Ways to Strengthen Your Firm’s Vendor Management Program WHAT HAPPENED? Vendor management is a critical piece of creating a comprehensive information security strategy for firms. Vendors processing or maintaining sensitive information on behalf of your firm and its clients are especially important to review and conduct due diligence [...]

Newly Identified Compliance Risks Due to COVID-19: What You Should Know

Newly Identified Compliance Risks Due to COVID-19: What You Should Know WHAT HAPPENED? Last week, the Office of Compliance Inspections and Examinations of the United States Securities and Exchange Commission (OCIE) issued a Risk Alert which outlines new compliance risks stemming from the global pandemic. The SEC and OCIE have remained [...]

Are You Taking Steps To Avoid Ransomware Attacks?

Are You Taking Steps To Avoid Ransomware Attacks? WHAT HAPPENED? Earlier this month, the Office of Compliance Inspections and Examinations of the United States Securities and Exchange Commission (OCIE) issued a Risk Alert which outlines best practices for maintaining a secure network; the United States Cybersecurity and Infrastructure Agency [...]

Six Ways to Help Protect Your Firm from a Cybersecurity Breach

Six Ways to Help Protect Your Firm from a Cybersecurity Breach WHAT HAPPENED? As the COVID-19 pandemic has changed how most industries are conducting business, one of the biggest challenges is the transition to working from home. Many people are using their personal devices for work, often on an [...]

UPDATE: SEC Provides Guidance on Advisory Firms Accepting PPP Loans

UPDATE: SEC Provides Guidance on Advisory Firms Accepting PPP Loans WHAT'S GOING ON? Many investment advisers have applied for or accepted a Paycheck Protection Program (“PPP”) loan for their firm. Recently, the SEC provided guidance and updates to frequently asked questions (“FAQs”). The updates include potential disclosure obligations relating [...]

SEC Makes Updates to Regulatory Relief Guidance

SEC Makes Updates to Regulatory Relief Guidance WHAT HAPPENED? Earlier this week, the SEC made updates to a set of frequently asked questions (“FAQs”) intended to provide guidance on COVID-19 regulatory relief. The updates include new information about custody rule requirements, reporting and potential disclosure obligations relating to the [...]