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A Cybersecurity Fine From FINRA
5 December 2016
View Client Update
Enforcement authorities can be particularly tough the second time around. FINRA previously investigated the same company and fined it over other concerns regarding its cybersecurity.
In FINRA’s view, policing the cybersecurity of vendors has gone from best practice to legal obligation.
FINRA apparently sees the “mother ship” company’s obligation to police cybersecurity extending throughout the business, even through a decentralized network of registered representatives and the vendors they engage.
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