Cybersecurity: SEC is starting to scrutinize registrants’ practices

Purpose – To alert broker-dealers to the SEC’s plans to examine their cybersecurity practices, and offer advice on compliance. Design/methodology/approach – Reviews the SEC’s proposed cybersecurity framework and provides suggestions for broker-dealers to address and respond to these proposals. Findings – The SEC is still focused on gaining more information about the state of the cybersecurity industry in the broker-dealer context. Practical implications – Broker-Dealers should review the framework and prepare to be flexible and responsive to changing guidelines that may emerge. Originality/value – Breaks down the SEC guidelines in plain English and analyses the import of these guidelines. Offers practical advice for compliance.