On February 3, the SEC’s Office of Compliance Inspections and Examinations (OCIE) published a Risk Alert that contains observations based on examinations of more than 100 broker-dealers and investment advisers. The examinations focused on how these firms:
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Identify cybersecurity risks
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Establish cybersecurity policies, procedures, and oversight processes
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Protect their networks and information
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Identify and address risks associated with remote access to client information, funds transfer requests, and third-party vendors
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Detect unauthorized activity
A second publication, an Investor Bulletin issued by the SEC’s Office of Investor Education and Advocacy (OIEA), provides core tips to help investors safeguard their online investment accounts, including:
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Pick a “strong” password
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Use two-step verification
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Exercise caution when using public networks and wireless connections
