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Red Oak Blog

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Tuesday, July 8 2014

State Securities Regulators Survey Investment Advisors on Cybersecurity

Several states have now joined the SEC and FINRA’s initiative to assess cybersecurity preparedness and have sent out questionnaires or will be shortly.

These questionnaires contain questions ranging from the very specific to the very broad. Some questions include:

  • Does your firm utilize laptop or tablet computers, or other portable electronic devices?
  • Is the encryption software installed on all laptop or tablet computers, or other portable electronic devices?
  • Identify the encryption software vendor: __________________
  • Does your firm utilize antivirus software?
  • Identify the antivirus software vendor: ___________________
  • Is the antivirus software installed on all fixed workstations and portable electronic devices?
  • How often are updates downloaded to the antivirus software?
  • Has your firm created and implemented a written information security program?

We believe the states will institute regulations regarding cybersecurity by early next year after assessing the responses to their questionnaires. Click here for a copy of the questionnaire for Massachusetts.