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Stories of Interest
- Credit Suisse Fully Compliant on Sanctions: CEO
- Ex-UBS Metals Trader Beats Spoofing Conspiracy Charge
- Investment Advisor, WCAS Management Corp, To Pay Nearly $800K Over Conflicts of Interest
- Altaba, fka Yahoo!, to Pay $35Mn for Failing to Disclose Massive Cybersecurity Breach - SEC
- SEC Formerly Bars Martin Shkreli from Industry
- HF Billionaire Steve Cohen Buying Into Fintech Start-Ups
- Deutsche Bank Is Weighing Massive Cuts in Its U.S. Cash Equities Unit
- Richard Jenrette, Co-Founder of DLJ Investment Bank, Dies at 89
- Goldman Sachs Makes First Hire in Cryptocurrency Markets Unit
- Special FINRA Election to Fill Large Firm Governor Vacancy
- Chicago-Based Investment Adviser Sentenced to 151 Months in Prison - SEC
- Dun & Bradstreet Hit With FCPA Violations - SEC
- SEC Charges Additional Defendant in Fraudulent ICO Scheme
- Warren Buffett Simply Blew it on Wells Fargo Stock: Dick Bove (Video)
- Barclays and Deutsche Bank to Lag U.S. Trading Peers
- NY AG Schneiderman Seeks to Close Loophole That Could Let Trump Pardons Block State Charges
- 'Fearless Girl' is Moving to NYSE After Year Staring Down 'Charging Bull'
- What's In Your Wallet - American Express Shares Soar After Earnings Release
- Deutsche Bank's Executive Departures Continue Following Change in CEO
- Reflections of an Economist Commissioner (SEC's Piwowar)
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NEWSLETTERS & ALERTS
Broker-Dealer Cybersecurity - FINRA Podcast
In the Part I of a 3-part series, Chip Jones, FINRA SVP of Member Relations and Education, leads a discussion with Susan Axelrod, FINRA EVP for Office of Regulatory Operations, and Dave Kelley, Surveillance Director from FINRA's KC District Office, about common deficiencies FINRA staff see during examinations of firms' cybersecurity programs. The podcast duration is 6-1/2 minutes.
PODCAST HIGHLIGHTS. While FINRA has no Cybersecurity Rule, and has no intention of implementing one, it takes every available opportunity to converse with member firms about the issue, including:
- to understand what steps firms take to safeguard customer data.
- to share best practices with member firms.
- to evaluate each firm's risk assessment framework.
- to evaluate each firm's consistency with peers.
FINRA seeks to allay firms' concerns about these dialogs. Rarely, rarely will FINRA write up a firm for deficiencies. However, write-ups will occur when FINRA comes across situations it feels strongly about - e.g., where access controls are so weak that someone who has left the firm can still access the system to enter trades.
NEXT UP - PART II. Formalizing the oversight of a firm's cyber program in strengthening controls around access to data and systems.