FINRA Penalties Show Growing Regulatory Focus on Cyber

Several recent enforcement actions by the Financial Industry Regulatory Authority, the main regulator for brokerage firms and exchange markets, show that another U.S. agency is taking a heightened interest in how well the companies it oversees protect their data. There is no overarching U.S. regulator of cybersecurity standards, but several agencies have set standards in their respective markets and punished companies that break the rules. The U.S. Securities and Exchange Commission, the Federal Trade Commission, and a range of other agencies have implemented cybersecurity regulations, and doled out financial penalties to organizations that fail to adhere to those rules…READ MORE