Given the recent SEC Risk Alert regarding cybersecurity and the recent FINRA Sweep announcement, the time is now for financial firms to refresh, enhance and improve their cybersecurity efforts. Today, when financial firms experience any form of data breach – from the loss or theft of laptops, backup tapes, or hard drives containing sensitive client or customer data, to the compromises of, or intrusions into, a firm’s servers, networks and other systems – financial regulators are going to come knocking (or even pounding) on the door.
Recent reports indicate that regulatory examiners have expanded their focus from merely what financial firms have in place to protect the data of their customers. In 2014 and beyond, regulators will also want to know:
- what financial firms are doing to thwart an attack upon their networks and systems;
- what plans, policies and procedures firms have established to detect the origin, nature and extent of the cyber-related incident;
- what regulatory notifications were made of any cybersecurity breach;
- and what sort of remediation the firm has undertaken after any cybersecurity-related incident.
A regulatory cyber-storm is clearly brewing and its onslaught will have a dramatic impact upon how financial firms build, manage and protect their information and trading systems. To help practitioners, in-house counsel, compliance officers, technology personnel, exchanges and the many other professionals impacted by this recent financial regulatory surge, we are providing two webcasts from two teams of experts.
The first of these webcasts will discuss:
* The current regulatory landscape of, and recent regulatory interest in, the cybersecurity policies and practices at financial firms;
* SEC enforcement actions pertaining to cybersecurity;
* The type of cybersecurity information FINRA and OCIE examiners may expect to receive during their examinations; and
* Recommended technology-related steps for broker-dealers, registered investment advisers, hedge funds, private equity firms, exchanges and other financial firms to take in response to increased regulatory focus and new regulatory initiatives, including how financial firms can launch a “preemptive holistic strike” to counter the anticipated regulatory offensive.
Please join John Reed Stark, Managing Director, Stroz Friedberg; and Bradley J. Bondi, Partner, Cadwalader, Wickersham & Taft LLP, as they address these issues and your questions in a free, one-hour webcast.
To attend this webcast (the live version is scheduled for Thursday, May 1, 2014, at 1 pm Eastern), please sign up below.
