Is the securities industry ready for a cybersecurity checkup? The data doctor is in. The Office of Compliance Inspections and Examinations (OCIE) of the U.S. Securities and Exchange Commission has announced that more than 50 lucky broker-dealers and investment advisers will have to submit to exams from the agency to evaluate the health of their defenses against cybercrime.
In a recent risk alert [PDF], the OCIE laid out its exam criteria, indicating the office’s interest in several aspects of cybersecurity preparedness, including company policies, remote customer access and breach-detection systems. The move, one of several that the SEC has made in the cybersecurity area, underscores the abundance of cyberthreats at work in the financial sector.
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