Good News: Cyber Security Plans
OCIE found that "the vast majority" of examinees – specifically, 93% of broker-dealers and 83% of investment advisers – have written information security policies in place. Better still, most of these policies and procedures go beyond prevention. In fact, 82% of the broker-dealers examined and 51% of the investment advisers examined address in their policies what happens after a breach, cyber-attack, or other data compromise. Specifically, they have outlined in writing disaster recovery plans for mitigating such an event – a step that many top experts identify as crucial for effective cyber security.
(Image Source: Jeffrey Beall via Creative Commons license)