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Cybersecurity, security breaches, and potential client identity theft concerns remain high among regulators.

Today, the Securities and Exchange Commission reported the results of its 2014 cybersecurity examination sweep of brokers-dealers and investment advisers. The SEC also warned investors about cybersecurity threats at brokerage and investment advisory firms and suggested how investors could better protect their online investment accounts.SEC Chair Mary Jo White said: “Cybersecurity threats know no boundaries. That’s why assessing the readiness of market participants and providing investors with information on how to better protect their online investment accounts from cyber threats has been and will continue to be an important focus of the SEC.”

The SEC’s investor bulletin provides useful tips to help investors safeguard online investment accounts. Those include:

  • Pick a “strong” password
  • Use two-step verification (if available on the website)
  • Exercise caution when using public networks and wireless connections

Click here for the latest SEC information on cybersecurity.

Warner Norcross & Judd has provided extensive guidance about protecting against and preparing for cybersecurity threats. Click here to read our materials.

Contact Shane B. Hansen (616.752.2145 or shansen@wnj.com) or any other member of the Funds and Investment Services Group at Warner Norcross to learn more about how broker-dealers and investment advisers can better prepare you or your company for cyber-attacks and the regulatory requirements that may be triggers when they occur.