Tue, Mar 19, 2024
A A A
Welcome Guest
Free Trial RSS pod
Get FREE trial access to our award winning publications
New Managers August 2016

PROFESSIONALS NEED ONLY APPLY: Cybercrimes - are you prepared?

 

Next month is National Preparedness Month. From climatic issues (hurricanes, fires, earthquakes, floods...) to cybercrime, managers need to be prepared.

Because cybercrime continues to be one of the hottest topics, especially for managers, we're getting a head start on your "preparedness". If you believe that you're addressing the issue, this will be a great way to confirm that you're covering all the bases.

On October 23, 2015, the CFTC's Information Systems Security Program "("ISSP"), a program which requires Member firms to adopt and enforce written policies and procedures to secure customer data and access to their electronic systems, was adopted by the NFA. On March 1, 2016, it became effective for all NFA Member firms.

The NFA's Cybersecurity Interpretive Notice requires an ISSP to cover several key areas. Written ISSPs should contain:

  • A security and risk analysis;
  • A description of the safeguards against identified system threats and vulnerabilities;
  • The process used to evaluate the nature of a detected security event, understand its potential impact, and take appropriate measures to contain and mitigate the breach; and
  • A description of the Member's ongoing education and training related to information systems security for all appropriate personnel Detailed information can be found at https://www. nfa.futures.org/news/newsNotice.asp?ArticleID=4649. Sophisticated investors have quickly come up to speed on privacy issues and are keenly focused on how managers deal with online and offline security, reinforcing or significantly reducing the manager's "trust" factor during due diligence.

Many managers, however, don't even understand the basics of what cybersecurity is, why it's a problem, what needs to be done, how to properly prepare and protect data and how to deal with an issue, if it arises.

Even worse, if they do understand, many have taken the "it'll never happen to me" attitude. Hence, a b......................

To view our full article please login

This article was published in Opalesque's New Managers a top-down monthly analysis, news and research publication on the global emerging manager space.
New Managers
New Managers
New Managers

Previous Opalesque Exclusives                                  
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. KKR raises $6.4bn for the largest pan-Asia infrastructure fund[more]

    Laxman Pai, Opalesque Asia: The New York-based global investment firm KKR has raised a record $6.4bn for its second Asia-focused infrastructure fund, underlining investors' continued appetite for private markets. According to a media release from the alternative assets manager, the figure top

  2. Bucking the trend, top hedge fund makes plans for a second SPAC[more]

    From Institutional Investor: SPACs aren't dead. At least not to the folks at Cormorant Asset Management. The life sciences firm, whose hedge fund topped its peers in 2023, is confident it will match the success of its first blank-check company. Last week, the life sciences and biopharma speciali

  3. Benefit Street Partners closes fifth fund on $4.7 billion[more]

    Bailey McCann, Opalesque New York: Benefit Street Partners has closed its fifth flagship direct lending vehicle, BSP Debt Fund V, with $4.7 billion of investable capital across the strategy. Benefit Street invests primarily in privately originated, floating rate, senior secured loans. The fun

  4. 4 hedge fund themes that are working in 2024[more]

    From The Street: A poor earnings report from Tesla (TSLA) has not hurt the indexes on Thursday. The decline in Tesla stock, which is losing its position in the Magnificent Seven pantheon, is more than offset by strong earnings from IBM (IBM) and ServiceNow (NOW) . In addition, the much higher-t

  5. Opalesque Exclusive: A global macro fund eyes opportunities in bonds[more]

    Bailey McCann, Opalesque New York for New Managers: Munich-based ThirdYear Capital rebounded in 2023, following a tough year for global macro. The firm's flagship ART Global Macro strategy finished the year up 1