Tag: BCP

The Door is Wide Open: Unpatched Security Flaw Leads to Leak of Login Credentials for 900+ Enterprise VPNs

A popular brand of VPN software recently had usernames, passwords, and IP addresses published on a dark web hacker forum frequented by ransomware gangs. I first wrote about this issue in July 2019. At the time, various VPN appliances from three well known and highly used vendors were vulnerable to a critical vulnerability which could … Continued

Breakdown of OCIE’s COVID-19 Compliance Risks Alert

The SEC’s “Office of Compliance Inspections and Examinations (“OCIE”) issued an Alert today regarding “Select COVID-19 Compliance Risks for Investment Advisers and Broker-Dealers.” OCIE shared observations regarding six broad categories: protection of investors’ assets; supervision of personnel; practices relating to fees, expenses, and financial transactions; investment fraud; business continuity; and the protection of investor and … Continued

SEC Issues New Cyber Risk Alert to Financial Firms

Financial firms have a bigger target on their backs at the moment, according to a new risk alert issued July 10, 2020 by the Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (OCIE).  This new risk alert on ransomware cautions investment advisers, broker-dealers, and investment companies that OCIE has recently observed a marked … Continued

Eventually, We Have to Go Back – BCP Post-Mortem

We don’t know when, but at some point we will have to put on shoes, get a haircut and return to the office. As compliance professionals, we are trained to look ahead and should be planning our action steps for when we return. Gather Firm Records and Other Property. You should have a good sense … Continued

Pandemic Puts Business Continuity Planning to the Test; Regulators Take Notice

The rapid expansion of the novel coronavirus and the COVID-19 pandemic has caused extreme stress if not panic throughout the financial markets, with ripple effects to many if not all financial advisory firms.  Solid Business Continuity Plans (“BCPs”) can help financial advisers stabilize their operations and cope with this dramatic change of circumstances. Here are … Continued


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