Cybersecurity Ransomware Alert: SEC OCIE

By Michael Fiorito, MDS

In response to the WannaCry attack that occurred on May 12, 2017, broker dealers and investment firms are encouraged to review best practices outlined by The U.S Department of Homeland Security and also evaluate patching for Windows XP, Windows 8, and Windows Server operating systems.  

SEC: Securities and Exchange Commission
OCIE: Office of Compliance Inspections and Examinations

Complete to download the full Ransomware Alert Article as posted by the SEC

Additionally, the OCIE’s National Examination Program staff reviewed 75 broker-dealers and determined that, at minimum, organizations can mitigate risk by maintaining the following practices:

Cyber-risk Assessment: Performing periodic risk assessment of critical systems
Penetration Tests: Conducting periodic penetration tests on critical systems
System Maintenance: Ensuring regular maintenance for the installation of software patches to address security vulnerabilities

In addition to assisting your organization with meeting SEC OCIE regulations, MDS can develop a comprehensive cybersecurity program that meets your business requirements.

Get My Complimentary Cyber Risk Assessment!

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