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Cybersecurity Scrutiny now on Financial Firms

Cybersecurity Scrutiny now on Financial Firms

Given the heightened importance around stabilizing financial markets, the Office of Compliance and Inspection & Examination’s (OCIE) Announcement to include Cybersecurity as a key 2015 examination priority is perfectly timed.

As an extension of the Securities and Exchange Commission’s March 2014 Cybersecurity Roundtable, OCIE’s Cybersecurity Examination will continue to shine intense scrutiny around Broker and Dealers financial firms’ cyber security posture.  

SEC Commissioners’ and industry stakeholders’ continued focus on the protection of customer information and preserving the integrity of market systems is well-served by this step. Given that financial markets are influenced by consumer confidence in the systems that keep trading systems secure, GlobalSign welcomes OCIE’s decision to keep cybersecurity a top priority by auditing traders’ level of cyber-defense preparedness.

One topic GlobalSign is pleased to see included in the Cybersecurity Examination is in the area of Access Rights and Controls. With the increase in on-line data breaches, especially involving customers’ sensitive information such as social security numbers, trade details, and other personal information, OCIE will be looking for appropriate controls around access and authorization of users.  In particular, controls around remote user access by contractors and customers are included in the examination with an eye on password management, the use of multi-factor Authentication, and timely update of access privileges.

GlobalSign is proud to secure many of the world’s critical infrastructure cyber-systems with high assurance digital credentials and customer centric Identity and Access management solutions. Enabling eCommerce while at the same time reducing risk of on-line breaches is what we do!    


Read the OCIE's Announcement, and be sure to contact GlobalSign to more information on securing Access Rights and Controls!

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