May 2017 – Page 3 – InfoHive – Data Security

TREND. State Audit Meets State Cybersecurity Risk Management Audits

Cybersecurity Risk Management Audits are a 2 step process:

“criteria used by management to explain its cybersecurity risk management”
“a control, outcome-based criteria that management can use to internally evaluate controls and processes in place”

Bloomberg | “COMMON LANGUAGE” ENVISIONED FOR CYBERSECURITY RISK MANAGEMENT AUDITS

+1 State. Data Security Requirements for Finance.

First came New York. Now comes Colorado promulgating cybersecurity rules on their financial sector.

The Colorado proposal will apply to:

financial advisers
broker-dealers
entities with state securities licenses

The Colorado rules will require securities licensees to:

conduct an annual assessment of their cybersecurity risks
require written policies and procedures explaining how they are protecting clients’ personal and financial information

Bloomberg Law | Colorado Moving to Set…