As you know, the Securities and Exchange Commission (SEC) has been working on new cybersecurity disclosure rules for over a year. A few days ago, the SEC adopted the new rules on a vote of…
News
Why Wealth Managers Should Celebrate Stalemates in the Never-Ending Cybersecurity Battle By Justin Mack New research released by Financial Planning sister publication American Banker and conducted by parent company Arizent finds that banks and…
In early May 2023, The Securities and Exchange Commission (SEC) announced a large enforcement action against broker dealers HSBC Securities Inc. and Scotia Capital Inc., which ultimately totaled $37.5 million in fines. This was a…
On June 8, 2023, Financial Planning will offer a cybersecurity webinar “Connected and Protected: The New Age of RIA Cybersecurity” in partnership with Atria Wealth Solutions, featuring Cybersecurity Expert and FCI CEO Brian Edelman. …
TradePMR, a technology and custodial services provider for Registered Investment Advisers (RIAs), will host Synergy23 in Tampa, FL, May 31-June 2 where Financial Advisor attendees will experience 3 days of valuable insights and information designed…
Earlier this year, the Financial Industry Regulatory Authority (“FINRA”) published its 2023 Report on FINRA’s Examination and Risk Monitoring Program (the “Report”). The Report emphasized that FINRA believes “cybersecurity remains one of the principal operational…
“Who is liable when cyber theft occurs?” is a featured question in the Spring 2023 edition of PLANADVISER magazine citing the cybersecurity responsibilities of retirement plan recordkeepers and sponsors to protect participants. The article…
FCI announces the launch of Zero-Trust Complete, the first genuinely Integrated solution that covers the four areas of Zero-Trust Cybersecurity: Software, Users, Endpoints, and Networks. Brian Edelman, FCI’s Founder and CEO comments, “There’s confusion…
The T3 Conference being held March 13-16, 2023, in Tampa, FL brings together technology vendors, industry leaders, financial advisors and financial services executives from banks, custodians, independent broker/dealers, insurance companies and large RIA networks. …
Although the last few updates have concerned the New York Department of Financial Services (“DFS”) and its proposed amendments to its Cybersecurity Regulation, 23 NYCRR Part 500, it is important to remember that the Securities…
FCI joined the Ebix Envision 2023 User Group & Expo held February 21–23, which brought together Ebix users and solution partners to exchange ideas and explore Ebix’s exciting vision for shaping the industry. FCI…
As discussed prior, in late 2022 the New York Department of Financial Services (“DFS”) published proposed amendments to its Cybersecurity Regulation, 23 NYCRR Part 500 (“Proposed Amendments”). If the Proposed Amendments are adopted, they would…
“Beware Of Cybersecurity Risks And How To Implement Regulatory Compliant Solutions” By Ken Leibow Cybersecurity is of critical importance in the financial services industry due to the sensitive nature of the data being handled…
“Personalization Push Heightens Need for Advisers to Vet Cybersecurity” by Alex Ortolani As the retirement industry moves toward more personalization for participants to plan and save, the chance for bad actors to gain access…
> Read the Article > Subscribe to Bob Veres’ Inside Information The December 2022 Inside Information edition highlighting “Data Security and Compliance” showcases Brian Edelman’s recommendations of the best ways to protect your…
“Why Cybersecurity for Retirement Plans is More Important Than Ever” by Alex Ortolani Following Brian Edelman’s CNBC FA Summit “Securing Your Savings” appearance, PLANSPONSOR shared important cybersecurity recommendations to help firms ensure that plan…
The New York Department of Financial Services (“DFS”) recently released a proposed second amendment to the Cybersecurity Regulation, 23 NYCRR Part 500 (“Proposed Amendments”), which if adopted would go into effect sometime in 2023. The…
Brian Edelman will join host Eamon Javers, CNBC Senior Washington Correspondent, as a featured cybersecurity speaker for the 2022 Financial Advisor Summit on Dec 6, 2022. “Securing Your Savings” is a panel discussion that every…
Firms should be aware of making potential admissions when assessing their cybersecurity risks, including when investigating an actual data breach. There have been a number of cases over the last several years that clearly illustrate…
FCI sponsored a cybersecurity panel discussion at the Security, Privacy, Risk & Compliance Retreat, Amelia Island, FL hosted by Sub-Four Capital. The security retreat brought together top C-level executives from Large Enterprises, Mid-Market, SMBs,…
Enhanced Pre & Post Breach Cyber Risk Management for a Growing Line of Business InsureTech Connect, Las Vegas, September 20, 2022: FCI, an MSSP focused on Financial Services, is eager to share a new…
The cybersecurity insurance market continues to evolve and there are some important developments for your consideration. In short, although cybersecurity insurance is an important component in your cybersecurity plan (e.g., mitigating costs), it is critical…
T3 published a new article about Coalition Of Cybersecurity Leaders Launch Open Cybersecurity Schema Framework (OCSF) written by FCI. Link to the article: https://t3technologyhub.com/coalition-of-cybersecurity-leaders-launch-open-cybersecurity-schema-framework-ocsf/
BLOOMFIELD, NJ, July 26, 2022: FCI announced today that is has mapped the four critical areas of Zero Trust including: Users, Endpoints, Software, and Networks that are required for true compliance and overall cybersecurity. Clarifying…
BLOOMFIELD, NJ, July 12, 2022: FCI, a leading provider of cybersecurity solutions in Financial Services, announced today that it has been selected as one of the “Top 10 Endpoint Security Services Companies 2022” by Enterprise…
As you may remember, earlier this year the Securities and Exchange Commission (SEC) voted to propose cybersecurity rules and amendments related to disclosures, risk management and security incidents for registered investment advisers and registered investment…
On May 22-24, 2022, Brian Edelman joined fellow thought leaders at the Lido House, Newport Beach, CA for panel discussions at the eDiscovery & Information Governance Retreat hosted by the CJK Group and the 2022…
On May 12, 2022, Brian Edelman joined AssetMark to present cybersecurity best practices for data protection and regulatory compliance to its financial advisors. Welcomed by “happy to be in-person again” attendees, Brian presented on the…
On May 11, 2022, the national Cybersecurity & Infrastructure Security Agency (CISA) issued a security alert warning about the increase in malicious cyber activity targeting Managed Service Providers (MSPs). Threat actors are focusing on…
Link to: “15 Ways to Leverage And Supplement AI In Your Cybersecurity Efforts” With more companies moving to permanent remote or hybrid work models, more endpoints are accessing systems of private data without proper…
Link to: Heightened Geopolitical Tensions Drive Cybersecurity Alerts for the Life Insurance Industry There are alerts coming across multiple sources from regulatory bodies to industry-specific regulators, government agencies, consulting firms, and more indicating that…
Recently, the Division of Examinations of the Securities and Exchange Commission (the “SEC”) released its annual list of examination priorities for 2022. The SEC listed five “significant focus areas.” One of the five is entitled “Information…
Leadership, IT Teams and MSPs Gain Increased Access & Shared Visibility BLOOMFIELD, N.J. APRIL 19, 2022: FCI is pleased to announce an expanded offering for Enterprises with deeper Co-Managed Cybersecurity capabilities. New realities call…
Link to: “What advisory firms should be doing on cybersecurity” By Tobias Salinger Results of Arizent’s latest cybersecurity survey of financial services business leaders revealed that “Wealth Managers have fallen behind other financial firms…
Both the New York State Department of Financial Services (“DFS”) and the Securities and Exchange Commission (“SEC”) have warned financial entities that Russia’s invasion of Ukraine will likely result in an elevated number of cyber-attacks and…
Link to: The Top Five Reasons a Security Assessment is Needed for M&A Due Diligence In an Advisor Perspectives guest article, Brian Edelman, FCI CEO & Cybersecurity Expert, details leading reasons for firms to…
As Regulations and Heightened Cyber Awareness Continue, Zero Trust Alignment is Critical to Avoid Data Exfiltration and Leaks BLOOMFIELD, NJ, March 29, 2022: This past year was a record-breaking year for data breaches. According…
As discussed in the prior update, the Securities and Exchange Commission (SEC), and specifically the Chair of the SEC, Gary Gensler, emphasized the SEC’s cybersecurity focus during his address at the 2022 Annual Securities Regulation…
Brian Edelman joins the Center for Tax, Strategies & Resources (CTSR) Orlando Academy February 9–11, 2022 as an Academy Speaker addressing member attendees who will receive 3-days of curated industry knowledge covering advanced strategies, tools,…
With Heightened Geopolitical Conditions, New Warnings Surface to Elevate Cybersecurity BLOOMFIELD, NJ, February 8, 2022: Cybersecurity continues to be a critical business function across industries with high vulnerabilities to threats and those managing sensitive…
As discussed in prior updates, the Securities and Exchange Commission (SEC) has increased its efforts with regard to cybersecurity. Towards that end, Chair of the SEC, Gary Gensler, discussed the SEC’s cybersecurity focus during his address at the…
Brian Edelman joined Insurance Town Podcast host, Heath Shearon, onsite at InsureTech Connect 2021 (ITC) for an insightful conversation about cybersecurity in the insurance industry. Heath, known as the Mayor of Insurance Town, interviews nationally…
Subsequent to the first ever cybersecurity enforcement action filed by The New York State Department of Financial Services (NYDFS) on July 22, 2020, a Statement of Charges Hearing will be held on January 21, 2022, to determine whether First American Title Insurance Company has committed violations of §§ 500.02, 500.03, 500.04, 500.07, 500.09, 500.10, 500.14, 500.15…
In the summer of 2019, Capital One discovered that a hacker had accessed private data for more than 100 million Capital One customers, including data that was part of their credit card applications, such as…
On December 7, 2021, the New York Department of Financial Services (NYDFS) issued Industry Guidance for all regulated entities on Multi-Factor Authentication (MFA) as an essential technical control required by the Cybersecurity Requirements for Financial…
Link to: Finseca.org On December 2, in a final installment of the Finseca 2021 Cybersecurity Webinar series, Brian Edelman brings together viewpoints from a BGA, RIA and Broker/Dealer affiliated financial firm for a panel discussion…
In past posts, we discussed increased enforcement efforts by the Securities and Exchange Commission (SEC). The SEC’s focus should have come as no surprise given that in early 2021, the SEC highlighted information protection and cybersecurity as key…
Link to: Schwab IMPACT 2021 Brian Edelman joins Schwab Advisor Services for IMPACT 2021 providing cybersecurity expertise in an educational session: Cybersecurity Landscape and the Benefits of Insurance on October 20, 2021 @ 11:00AM Eastern.…
In the last newsletter, we discussed the Securities and Exchange Commission (SEC) and its recent enforcement efforts. Specifically, how the SEC and the New York Department of Financial Services (DFS) have been pursuing entities for failure to…
Link to: What the SEC Cybersecurity Crackdown Means for Financial Advisers 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…
