New York State Financial Advisors must have a cybersecurity program in place in 2017. The cybersecurity program needs to be effective to follow all the regulations.
Advisors can rely on Fractional CISO to help them improve their cybersecurity. The improved cybersecurity will allow Advisors to comply with New York State requirements. The NY Department of Financial Services (DFS) will enforce the regulations starting in August 2017.
Advisor Cybersecurity Resources
To secure their practice, Advisors can use many no-cost resources detailed below.
The New York State Cybersecurity for Advisors Brochure provides details of the regulations. It outlines the 2017 requirements. It highlights what DFS requires for 2018. The brochure breaks down the elements of the regulations. Advisors can use the brochure to help plan their compliance efforts.
Larger Advisors have more stringent requirements. They need to have a Chief Information Security Officer (CISO). The CISO has responsibility for the organization’s cybersecurity program. The security officer must be a security expert. Details on these and other requirements are available here.
Improving one’s cybersecurity starts with an evaluation. Fractional CISO provides a complementary RIA Cybersecurity Risk Worksheet. This risk worksheet allows Advisors to perform a quick self-evaluation. The worksheet can help Advisors focus on the areas that are most problematic.
Advisors can also use Fractional CISO’s no-cost initial consultation. The consultation can help Advisors plan the needed improvements for their security posture. To schedule your consultation, please call us at 617.658.3276 or email us at[email protected].
Is your Cyber Insurance really going to cover you?
Only 1/3 of cyber insurance policies actually pay out in incidents. Most companies have cyber insurance policies that insure too little, or too much, and have absurdly low caps and silly exclusions.
To learn more about cyber insurance and determine if you have the right coverage for you, join us for a free vCISO Office Hours session on Tuesday, April 18 at 1 p.m. eastern time. Bring your questions!
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