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Why Asset Managers Should Invest in Business Continuity

Why Asset Managers Should Invest in Business Continuity

You know that business continuity (BC) plan that you keep meaning to write but put off for another day? It’s time to stop procrastinating because some changes to business continuity are on the horizon. The SEC is proposing a new rule that would require SEC registered investment advisers to adopt and implement written business continuity […]

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OCIE September Risk Alert: Are You Cybersecurity Audit-Ready?

OCIE September Risk Alert: Are You Cybersecurity Audit-Ready?

The SEC’s Office of Compliance Inspections and Examinations (OCIE) recently issued an update of their Cybersecurity Examination Initiative–the third one related to this initiative–alerting businesses in the securities industry to the newest areas within cybersecurity practices they will be examining. Each of these six focus areas will assess the extent to which firm procedures and controls have been implemented in order to promote better compliance practices and ultimately improve cybersecurity preparedness:

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Third Party Vendor Assessments Are Key to BCP and Cybersecurity for Asset Managers

Third Party Vendor Assessments Are Key to BCP and Cybersecurity for Asset Managers

In an increasingly interconnected business world, on-time delivery of products and services is crucial. As technology and innovation continue improving the way businesses operate, we all must rely on a web of third party vendors and partners to make it happen. Revenue, growth, and brand reputation are at risk if a company’s third party vendors are ever disrupted, breached, and unable to deliver their services. For example, credit unions rely on their payment processing partners to always be running at 100%, law firms must have uninterrupted access to client casework information, and retailers need their key suppliers to produce and deliver goods no matter what.

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Cybersecurity for Asset Managers: Don’t Let the Russian Big Data Breach Happen to You!

Cybersecurity for Asset Managers: Don’t Let the Russian Big Data Breach Happen to You!

Yet another information breach has amassed millions of private usernames and passwords from around the world, further demonstrating the need for increased proactive cybersecurity measures. As asset managers, it is imperative that the highest level of protection is implemented to protect the financial interests of your clients.

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“Cyber Criminals Steal Via Wealth Managers” – Asset Managers Advised to Develop Plans for Preventing Cyber Attacks

“Cyber Criminals Steal Via Wealth Managers” – Asset Managers Advised to Develop Plans for Preventing Cyber Attacks

The Financial Times reported in its article “Cyber Criminals Steal Via Wealth Managers” that at least six wealth managers have been the victims of cyber attacks in the past few months. “Cyber criminals are increasingly hacking into the systems of wealth managers in order to steal money from better-protected clearing banks,” the article stated.

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Business Continuity Vendor Relationship Best Practices from the SEC

Business Continuity Vendor Relationship Best Practices from the SEC

If your firm needs assistance in creating or testing your Business Continuity and Disaster Recovery plans, it won’t be alone in hiring a third party vendor. The SEC’s National Examination Program (NEP) deems it a “notable practice” to use a third party service provider to annually audit your business continuity plan and analyze the results for areas of improvement.

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5 Takeaways from the SEC’s Review of Investment Firms’ Business Continuity Programs

5 Takeaways from the SEC’s Review of Investment Firms’ Business Continuity Programs

Superstorm Sandy shutdown the New York Stock Exchange for two business days in October of 2012. The last time the NYSE shutdown was on Sept. 11, 2001, and the only time in history it was closed for two days was in 1888, also due to weather issues. As we approach the one year anniversary of Superstorm Sandy, it’s important to note what the Securities and Exchange Commission has done to ensure business can continue operations and fulfill their fiduciary responsibility to their clients.

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