Transcription of Report on Cybersecurity Practices - FINRA.org
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A Report FROM THE FINANCIAL INDUSTRY REGULATORY AUTHORITYR eport on Cybersecurity PracticesREPORT ON Cybersecurity Practices FEBRUARY 20151 ContentsExecutive Summary 1 Background 3 Governance and Risk Management for Cybersecurity 6 Cybersecurity Risk Assessment 12 Technical Controls 16 Incident Response Planning 23 Vendor Management 26 Staff Training 31 Cyber Intelligence and Information Sharing 34 Cyber Insurance 37 Conclusion 38 Appendix I Summary of Principles and Effective Practices 39 Appendix II The NIST Framework 42 Appendix III Encryption Considerations 45 Endnotes 46 FEBRUARY 2015 Executive SummaryLike many organizations in the financial services and other sectors, broker-dealers (firms) are the target of cyberattacks. The frequency and sophistication of these attacks is increasing and individual broker-dealers, and the industry as a whole, must make responding to these threats a high priority. This Report is intended to assist firms in that effort.
2 REPORT ON CYBERSECURITY PRACTICES—FEBRUARY 2015 00 Technical controls, a central component in a firm’s cybersecurity program, are highly contingent on firms’ individual situations. Because the number of potential control measures is large and situation dependent, FINRA discusses only a few representative controls here.
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