Enough high-profile cyber incidents involving retirement plans have occurred that lawmakers have begun asking questions. The Comptroller General of the U.S. Government Accountability Office has been asked by members of Congress to examine the issue and answer 10 crucial questions [...]
Cyber security is crucial for today’s financial services professionals — at this point, almost everyone understands that. Yet some firms may still be underprepared for serious cyber attacks and the damage they can cause. A new survey of financial executives [...]
“Did you hear? Another recordkeeper was sued for cyber fraud!” Recordkeepers have heard this line a lot lately. But around the watercooler, such stories often blur together. The details get lost, and that can make it harder for registered investment [...]
Businesses in the finance industry are facing new online risk as cyber attacks and geopolitics merge into a single threat. Cyber attacks have already been at an elevated level for several years. However, the latest geopolitical threat comes in addition [...]
Large financial firms are taking action to address the increasing risk in the registered investment advisor (RIA) industry. Following closely on the heels of Schwab, the latest is Fidelity Investments, whose Fidelity Institutional business unit serves financial intermediaries and institutions [...]
Now more than ever, retirement plan recordkeepers are at risk of cyber fraud. But there are ways to minimize your exposure. Lockton Affinity’s Tom Schrandt recently penned an article for ASPPA's Plan Consultant Magazine, offering cyber tips for recordkeeping professionals. [...]
A lot has changed about the way businesses work over the last few years, including a rise in the cyber risks from working from home for RIAs and other financial professionals. Most computer systems at big offices are well protected [...]
Most registered investment advisors see any potential fraud involving computers as a serious risk to business, but fraud coverage within a cyber liability policy can vary. Unlike RIAs, insurers don't think of cyber risks like fraud as one single risk, [...]
Cyber liability insurance protection is key to an effective risk management strategy when you're a registered investment advisor. But changes are afoot in the cyber insurance marketplace and it could impact your ability to get the coverage you need while [...]
Under ERISA, retirement plan fiduciaries can be held liable for cyber crime impacting participant data and assets, even when the fault lies with a service provider. New guidance suggests how advisors like you can protect yourself. New Guidance for Fiduciaries [...]
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