10 ways advisers can improve their cybersecurity
10. Share information
In asking 50 broker-dealers and RIAs 28 questions about their cybersecurity practices, the SEC is signaling that information should be shared as one way to protect the advisory industry from growing global cybersecurity threats.
Mr. Zolper recommends that advisory firms join the Financial Services Information Sharing and Analysis Center, whose worldwide members share timely and authoritative information on protecting critical systems and assets from cyberthreats.
“No entity is an island unto itself,” he said. “We need to understand the risks end to end. The SEC is trying to take a holistic look and cast a wide net.”