Understanding and preparing for OCIE cybersecurity exams

May 2014
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Understanding and preparing for OCIE cybersecurity exams

At a glance

On April 15, the Securities and Exchange Commission (SEC) Office of Compliance Inspections and Examinations (OCIE) announced in a Risk Alert that it will examine the cybersecurity preparedness of more than 50 registered broker-dealers and investment advisers. The alert represents a follow-through on the SEC’s earlier promise to examine the cybersecurity programs of financial firms. This paper takes a closer look at the Risk Alert and provides recommended actions companies can take to prepare for a possible exam.