What Some BDs are Doing Wrong in Cybersecurity

June 29, 2017

What Some BDs are Doing Wrong in Cybersecurity

June 28, 2017 | by Rita Raagas De Ramos | Financial Advisor IQ

Finra has found six common cybersecurity weaknesses it has observed from examinations of its member-firms. And the failings read as a to-do list of things broker-dealers should do to ensure their cybersecurity is up to scratch.

These include the lack of training in cybersecurity issues; flaws in staff access to technology systems; weakness in access to technology systems of terminated employees; a lack of segregation of technology application developers; a lack of proper vendor oversight; and the absence of, or deficiencies in, the cybersecurity policies and procedures in remote branch offices.

Those weak spots were identified by Susan Axelrod, executive vice president of Finra’s Office of Regulatory Operations, at the self-regulator’s annual conference last month in Washington, D.C.

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Second Annual Blue Vault Broker Dealer Educational Summit 2016
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