Does Your IT Services Company In Monterey, CA Support Your FINRA Compliance?

FINRA compliance doesn’t happen by accident. Any regulatory system is complicated and requires you to understand it in order to follow it. That’s why it helps to have an IT services company in Monterey, CA on your side, to help you do so.

However, no matter if you have help or not, before you try to answer the question as to whether or not you are FINRA compliant, you have to answer a more important one…

FINRA’s Compliance Recommendations Followed By Monterey Organization

Does Your IT Services Company In Monterey, CA Help You Understand FINRA Compliance?

To meet FINRA & SEC regulations, you must first understand what they require of investment firms and financial services organizations like yours. You must realize what’s classified as a violation of FINRA & SEC regulations, and make sure you put solutions in place to mitigate the risks of noncompliance.

The bottom line is that being secure and being FINRA compliant are almost the same thing. FINRA’s all about protecting the customer’s information (and what happens when you can’t), which is really a matter of your cybersecurity. Whichever of the local IT services company in Monterey, CA you work with should be helping you stay compliant and secure – are they?

5 Key Cybersecurity Best Practices Your IT Services Company In Monterey, CA Needs To Support

  1. Keep Data Safe Where Branches Are Concerned
    No matter how robust your headquarters’ cybersecurity measures are, it’s not a guarantee that those controls extend to your branches. It’s more than likely that, as you may have left cybersecurity and FINRA compliance to each branch to maintain independently, they may have missed the mark on a few considerations.That’s why you need to make sure they implement the following standards:

    • Mandatory security controls
    • Notifications concerning issues and breaches
    • Accepted security settings and vendors
    • Assignment of duties and responsibilities pertaining to cybersecurity controls
    • Training curriculum and testing protocols
  2. Make Your Employees A Part Of Cybersecurity
    Do your employees have the knowledge they need to spot phishing emails?If you’re not sure, then they may need training. Security awareness training helps your employees and volunteers know how to recognize and avoid being victimized by phishing emails and scam websites.They learn how to handle security incidents when they occur. If your employees and volunteers are informed about what to watch for, how to block attempts and where they can turn for help, this alone is worth the investment.

    Cybersecurity awareness training is becoming a more and more common part of modern IT services. The fact is that users are a key target for cybercriminals; the more they know about cybercrime tactics, the better defended your organization will be.

  3. Protect Yourself From Malicious Employees
    The fact is that misuse of privilege is often one of the most common ways for cybercriminals to penetrate a network. Either by tricking a user with administrative privileges to download and run malware or by elevating privileges on a compromised non-admin account, hackers regularly make use of this highly common unsafe business practice.You need to have a carefully implemented process to track the lifecycle of accounts on your network. This is why you need to have a carefully implemented process to track the lifecycle of accounts on your network.

    • Follow a careful system for how accounts are created for new members, how their security is maintained and verified through their life, and how they are removed when no longer needed.
    • Implement secure configuration settings (complex passwords, multi-factor authentication, etc.) for all accounts.
    • Implement controls for login and use, such as lockouts for too many unsuccessful logins, unsuccessful login alerts, and automatic log-off after a period of inactivity
  4. Test Your Defenses On A Regular Basis
    The penetration test is an authorized attack on your organization’s technology and staff and is one of the best ways to accurately evaluate your security controls. This allows you to double-check each and every aspect of your cybersecurity posture.FINRA recommends running penetration tests both on a regular basis, as well as after key events – anything really that makes significant changes to your firm’s infrastructure, staffing, access controls, or other cybersecurity-based considerations.
  5. Keep Data Protected On Mobile Platforms
    Mobile devices that access your firm’s data need to be held to the same cybersecurity and compliance standard that the rest of your IT is.Implement Mobile Device Management and Bring Your Own Device policies that allow employees to use their own devices in combination with the organization’s – be sure to equally prioritize the convenience of access with security.

Regardless of what type of cybersecurity solutions you put into place, they should be optimized for future technologies and content types. They also should be easy to update and scalable. Static or multiple standalone options that only target individual needs or requirements won’t be enough – your IT services company in Monterey, CA should be able to help.

If they can’t, then consider working with DeVeera. With security and compliance certification services from DeVeera, your business is protected from both internal and external threats that target sensitive data. You’ll also benefit from ensuring your firm meets the requirements outlined by current laws and regulations that govern businesses in the state.

Like this article? Check out the following blogs to learn more:

How to Hire Qualified Computer Specialists

Chrome Users Need to Update Now

What Are Your Company’s Responsibilities Following a Data Breach?