How Financial Service Providers Can Address Common Cybersecurity Threats

The National Futures Association’s Interpretive Notice on cybersecurity, which became effective on March 1, 2016, calls for NFA members to adopt an Information Systems Security Program robust enough to guard against increasingly sophisticated cybersecurity threats. Senior NFA personnel and industry experts recently gathered at a workshop to give advice on complying with the Notice and how to strengthen a firm’s ability to prevent, detect and remediate cybersecurity incidents. This article covers the panelists’ discussion of critical cybersecurity threats; cybersecurity response plans; training; and other practical cybersecurity measures. For previous coverage of the NFA workshop, see “Expert Advice on Newly Effective NFA Cybersecurity Requirements for Market” (Mar. 2, 2016). See also CSLR’s two-part series on how the financial services sector can meet the cybersecurity challenge: “A Snapshot of the Regulatory Landscape (Part One of Two)” (Dec. 9, 2015); “A Plan for Building a Cyber-Compliance Program (Part Two)” (Jan. 6, 2016).

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