CFTC Told To Sharpen Review Of Dealers' Cybersecurity

Law360, New York (December 1, 2016, 7:08 PM EST) -- The U.S. Commodity Futures Trading Commission should begin independently verifying whether its futures and swaps dealers are effectively prepared for cyberattacks, to correct vulnerabilities to computer and data breaches, according to an audit.

Brown & Company CPA and Management Consultants PLLC, which performed the audit on behalf of the CFTC inspector general, said that the agency’s recent assessment of the cybersecurity preparedness of its futures commission merchants and swaps dealers neglected to independently test whether those members’ policies were effective.

The audit, issued in October and...
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