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They’re Baaaack . . . SECs Office of Compliance Inspections and Examinations Releases New Cybersecurity Risk Alert

Yesterday, the U.S. Securities and Exchange Commission (SEC) Office of Compliance Inspections and Examinations (OCIE) released a Risk Alert describing OCIE’s 2015 cybersecurity exam initiative.  [link to www.sec.gov/ocie/announcement/ocie-2015-cybersecurity-examination-initiative.pdf].  As the Risk Alert notes, OCIE’s new cybersecurity initiative builds on information OCIE learned from...

Sutherland and the Financial Services Institute Complete Benchmarking Survey on Cybersecurity Practices

WASHINGTON—Sutherland Asbill & Brennan LLP and the Financial Services Institute (FSI) have completed a survey of FSI members concerning cybersecurity issues. The survey included responses from 39 broker-dealers (92% of which were dually registered as investment advisers), ranging in size from fewer than 100 registered representatives to more than 2,000. The survey covered a variety...

DOJ Publishes Cyberincident Response Best Practices Document

The Cybersecurity Unit of the Department of Justice (DOJ) has published a “best practices” document to assist organizations in developing a response plan for cyberincidents. The document, titled Best Practices for Victim Response and Reporting of Cyber Incidents, focuses on steps organizations should take before, during and after a cyberincident and emphasizes the need for...

Managing a Cyberattack: An Interactive Simulation at the ACC Advanced Compliance Education Summit

It is 3:00 in the morning and your children are safe in bed, but the phone is ringing at the FBI! Sutherland’s Mark Thibodeaux; Cyndi Baily, Chief Compliance Officer at Alere Toxicology; Sarah Sandstorm, Contracts Counsel at KBM Group; and Special Agent Corey Harris from the FBI presented an interactive simulation of a cyber-attack at the ACC’s Advanced Compliance Education Summit...

CFTC Holds Cybersecurity Roundtable March 18

As noted in our previous entry, staff from the Commodity Futures Trading Commission (CFTC) held a Public Roundtable on Cybersecurity and System Safeguards Testing on March 18, 2015. The Roundtable, which included participants from the private sector and government agencies, could be a kick-off event for a larger CFTC initiative to address issues related to cybersecurity. The Roundtable...

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