The SEC’s challenges in implementing their own cybersecurity protocols could be similar to your firm.
On December 16th, Commissioner Luis A. Aguilar of the Securities and Exchange Commission (“Commission”) released a public statement titled “Being a Responsible Steward: Ensuring that the SEC Implements Effective Cybersecurity Protocols for its Data Gathering Efforts.” In the article, he addresses the increased data gathering of the Commission in order to be a “more informed and astute regulator” and to “keep pace with our rapidly evolving markets.” He also addresses the fact that one agency having all of this data increases their risk of a cyber-attack.
The following is a list of challenges the SEC is facing mentioned in the article:
- Where to start
- Limited Budget
- Too many cybersecurity products
- People
- Processes
- Products
Even though the Commission is a large federal organization, the basics of cybersecurity can be applied to firms of all sizes. Firms may want to consider and where applicable, apply to their own firms solutions to the challenges above. Jacko Law Group, PC (“JLG”) is equipped to help firms navigate through these cybersecurity challenges and implement practical solutions. For more information on cybersecurity, including risk assessments and policies and procedures, or to speak with an attorney on this or other related subjects, contact JLG at 619.298.2880 or info@jackolg.com.
