Posts in Cybersecurity.
FINRA Report Suggests Growing Need for Enhanced Risk Management in Cybersecurity and Outside Business Activities

Firms that have seen the recently released 2021 Report on the Financial Industry Regulatory Authority’s (FINRA’s) Examination and Risk Monitoring Program (the "Report") should be formulating plans to fortify their compliance programs based on the noteworthy findings shared from recent FINRA exams. The Report provides firms with valuable insight into 18 regulatory topics categorized by Firm Operations, Communications and Sales, Market Integrity, and Financial Management.

Posted in Cybersecurity, FINRA
What to Expect in 2021 from the SEC’s Division of Enforcement: Material Nonpublic Information

In today's remote work environment, cybersecurity has become one of the Industry's largest vulnerable components when servicing clients. As majority of the Industry has migrated to remote work and new communication technologies, this has forced more data and information to be susceptible to risk. In this blog post, we will discuss material nonpublic information and how we believe this will be an area of additional focus as the Industry gears up for 2021.

Another Technology Company Settles SEC Charges Over ICO Violations

Blockchain of Things (“BCOT”), a technology company, has agreed to settle charges with the Securities and Exchange Commission (“SEC”) for conducting an initial coin offering (ICO) without registering it as a securities offering or qualifying for any registration exemptions.  The settlement requires BCOT to agree to a cease and desist order, pay a $250,000 civil fine, return funds to any investors who file a request, and register the tokens as securities.

Voya Financial Advisors, Inc. -- System Glitch Reveals Broker's Information

Cybersecurity and information security protocols have become industry-wide priorities, both to the regulatory bodies that oversee our business practices and to the customers who trust that firms' policies and procedures are up-to-date and robust. This same principle extends also...

OCIE Risk Alert Provides Critical Guidance on Electronic Messaging

Information technology continues to provide amazing benefits to our industry, but it also brings with it a number of risks when it comes to compliance. Changes in the way mobile and personally owned devices are being utilized for business...

Though we've known ever since the SEC released its exam priorities for 2018 that cybersecurity would continue, as in years past, to be a priority, the SEC's Office of Compliance Inspections and Examinations ("OCIE") recently announced a plan for a...

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