Financial services firms are a key target of hackers and responding to the breaches they may cause does not come cheap – the average response cost in the financial services sector is more than double the overall average of $5.84 million, according to data from the Ponemon Institute LLC. As incidents increase, regulators are paying closer attention and firms are spending more on cyber preparedness. A recent program sponsored by K&L Gates and the Investment Adviser Association surveyed the current cybersecurity threat environment and SEC cybersecurity initiatives for the financial services sector; summarized the applicable laws and regulations that bear on cybersecurity; considered the multitude of cybersecurity risks faced by investment managers; and offered a number of strategies for mitigating those risks.
In honor of International Women’s Day, some of ION Analytics' editorial teams led by women interviewed notable women in the markets and industries we cover. In this part, the Cybersecurity Law Report highlighted notable women in compliance and hedge fund, data privacy and cybersecurity, and anti-corruption law, including Amii Barnard-Bahn, Abigail Bell, Genna Garver, Jane Horvath, Barbara Li, Amy Mushahwar, Mara Senn and Carol Widger. The interviews are here.
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