The Morning Risk Report: Reports Put Broker-Dealers on Cybersecurity Notice | White & Case LLP International Law Firm, Global Law Practice
The Morning Risk Report: Reports Put Broker-Dealers on Cybersecurity Notice

The Morning Risk Report: Reports Put Broker-Dealers on Cybersecurity Notice

The Securities and Exchange Commission and the Financial Industry Regulatory Authority released reports that discuss how broker dealers and regulated investment advisors are addressing cybersecurity matters.

Daren Orzechowski, a partner in the data, privacy and cybersecurity practice at White & Case, said one of the values of the SEC report is that it showed what other firms are doing, and this can be useful for others looking to see where they stack up against their peers.

More alarming, Mr. Orzechowski said, was that a number of firms were adopting these best practices but not requiring their vendors to adopt them. "A good practice, which appears to not to be fully adopted in the sampled group, is making sure these cyber policies are imposed on vendors by way of contract," he said.