Financial Firms' Worst Mistakes With Cybersecurity

By Carmen Germaine (August 21, 2017, 10:55 PM EDT) -- Although the U.S. Securities and Exchange Commission said earlier this month that broker-dealers, investment advisers and funds have improved their "cybersecurity preparedness" in recent years, it found a majority of firms still had issues.

The findings came in an Aug. 7 risk alert released by the SEC's National Exam Program detailing observations from its exams of registered firms, and were mirrored in survey results released last week by Cipperman Compliance Services.

Cipperman found that 57 percent of surveyed alternative managers — a category that includes hedge fund and private equity fund managers — felt their cybersecurity policies didn't meet regulatory requirements....

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