Recent SEC Enforcement Actions against eight financial firms for violations of cybersecurity safeguards is a clear signal that implementation of cybersecurity controls is paramount for protection and to avoid penalty.
In discussion with Ebix, Brian Edelman, Cybersecurity Expert and FCI CEO, shared that “Broker-dealers and financial institutions have been led to believe that the only time that they will be questioned on their cyber policies is when there is an exam. The reality is that the regulators have been doing a magnificent job and making it very clear that financial institutions must take cyber seriously.”
Edelman supplied actionable recommendations for what advisors can do to improve their cybersecurity programs and indicated “if we follow the instructions laid out by the regulators, we will have a cyber-secure financial market.”
Please join Brian Edelman who will continue the cybersecurity discussion with Ebix in a live webinar October 20, 2021 @ 1:00PM Eastern. Register for Ebix webinar.