A Checklist to Help Fund Managers Assess Their Cybersecurity Programs

Demonstrating its keen focus on cybersecurity, FINRA recently released a tool to help small firms identify key cybersecurity risks and enhance their customer information protection, cybersecurity written supervisory programs and related controls. The tool, entitled “Core Cybersecurity Threats and Effective Controls for Small Firms” (Tool), highlights the most common and recent categories of cybersecurity threats facing small firms, includes questions to assist firms with addressing those threats, provides a summary of core controls small firms should consider and contains relevant questions for firms to answer when evaluating their current cybersecurity programs. We digest these Tool components and provide a checklist created from the questions in the Tool that firms can use to assess the sufficiency of their cybersecurity programs. See “FINRA Report Addresses Common Cybersecurity Risks and Recommends Mitigation Measures” (Feb. 13, 2019).  

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