It has become increasingly important for financial institutions to adopt robust security measures to safeguard their client’s assets and personal data. To address this challenge, FINDA has established a comprehensive set of rules to enhance its member firms’ cybersecurity posture.

However, there isn’t a set-in-stone framework for specific security measures. Instead, FINRA consists of obligations and guidance on how to address those obligations.

This article will delve into the various aspects of cybersecurity related to FINRA. By understanding the importance of cybersecurity within the context of FINRA’s regulatory framework, financial institutions can better protect their clients, mitigate risks, and contribute to a more secure and resilient financial system.

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In previous blog posts, we’ve discussed the role of technology and HIPAA (related explicitly to HITECH regulations). However, the growth of intelligent devices and the Internet of Things (IoT) has led to a sea change in how Covered Entities (CEs) and Business Associates (BAs) manage their patients. Likewise, it adds new wrinkles to how these organizations manage their compliance requirements under HIPAA. 

Here, we’ll discuss some of the overlaps between HIPAA requirements and risks posed by smart, IoT-based devices. 

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Understanding the structure of a SOC 2 report is essential for both businesses and service providers who are thinking ahead to their audit and attestation. It will serve as the “story” of an organization’s SOC 2 journey, covering the evaluation of their adherence to the Trust Services Criteria (TSC)–security, availability, processing integrity, confidentiality, and privacy. 

In this blog post, we will provide an overview of the standard structure of a SOC 2 report, encompassing its various sections and the information included in each of these segments. 

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