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February 20, 2014

20 February 2014

Broker-Dealers Need to Respond to Recent Focus on Cybersecurity Threats

Recent data breaches at retailers like Target have increased awareness about growing cybersecurity threats. Broker-dealers in particular need to reevaluate their own cybersecurity preparedness in light of several recent events:

  1. FINRA’s launch of a cybersecurity sweep, publicly announced on the FINRA website on February 6, 2014;
  2. The inclusion of cybersecurity as a priority in the SEC’s National Examination Program for 2014 and FINRA’s 2014 Annual Regulatory and Examination Priorities Letter;
  3. The White House’s February 12, 2014 release of the much-anticipated Framework for Improving Critical Infrastructure Cybersecurity; and
  4. An upcoming SEC public roundtable on cybersecurity issues, to be held in Washington, DC on March 26, 2014.

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