Privacy, Cybersecurity, and Regulation S-ID

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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 [...]

Are your firm’s electronic records secure by SEC standards?

Are your firm’s electronic records secure by SEC standards? WHAT HAPPENED? In recent years, the United States Securities and Exchange Commission has heightened its emphasis on cybersecurity requirements for firms. Routine examinations now often involve in-depth requests for information on firms’ cyber and data security practices, which are areas [...]

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 [...]

New Security Feature for Web CRD and IARD Systems

New Security Feature for Web CRD and IARD Systems WHAT HAPPENED? For Super Account Administrators (SAAs) and Account Administrators (AAs) on FINRA’s Web CRD or IARD platforms, a new security feature is now required as part of the login process. For these administrators, FINRA is phasing in a multi-factor [...]

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 [...]

COVID-19: What Financial Regulatory Bodies Are Saying

COVID-19: What Financial Regulatory Bodies Are Saying WHAT HAPPENED? On March 11, 2020, the World Health Organization (WHO) declared COVID-19 is now classified as a pandemic. Between WHO, the Centers for Disease Control and Prevention (CDC), and other similar organizations, efforts are being made to halt the spread of [...]

What Does OCIE Look for When Examining Cybersecurity Practices?

What Does OCIE Look for When Examining Cybersecurity Practices? WHAT HAPPENED? In recent years, the Office of Compliance Inspections and Examinations (OCIE) of the Securities and Exchange Commission made cybersecurity a top priority when examining all types of firms. As the use of digital technology becomes more essential to [...]

OCIE Releases 2020 Examination Priorities

OCIE Releases 2020 Examination Priorities WHAT HAPPENED? On Jan. 7, 2020, the Office of Compliance Inspections and Examinations of the Securities and Exchange Commission (OCIE) released its 2020 Examination Priorities. The list is published annually to provide clear guidance to professionals and to highlight pertinent risks to investors. Several [...]

How are Advisers Selected for an OCIE Exam?

How are Advisers Selected for an OCIE Exam? WHAT HAPPENED? In Fiscal Year 2018, the Office of Compliance Inspections and Examinations of the Securities and Exchange Commission examined nearly 17% of SEC-registered investment advisers. For the past several years, the number of examinations performed annually has steadily increased and [...]