The FISMA Focus IPD

As cyber-attacks continue to threaten the financial industry, the SEC has made cybersecurity an urgent priority. On August 7, the SEC’s Office of Compliance Inspections and Examination (OCIE) released a new cybersecurity Risk Alert. This Risk Alert provides valuable insights into entities about effective cybersecurity practices. Entities and their personnel are well-advised to refresh their cybersecurity policies, practices, and training in light of the matters flagged in this Risk Alert.

The Risk Alert describes findings from OCIE’s second cybersecurity survey of 75 regulated entities (registered broker-dealers, investment advisers, and investment companies), based on examinations conducted between September 2015 and June 2016. OCIE’s first survey was conducted in 2014, and published in 2015. Underscoring the SEC’s keen focus on cybersecurity concerns, this is the SEC’s fifth release focused on cybersecurity since 2014.