On cybersecurity, industry and regulators are in it together

As more and more of investors’ financial lives migrates online, data security has become top-of-mind for independent financial services firms, independent advisers, regulators and legislators alike. Significant data breaches — relatively rare until recent years — now seem to crop up every few months, with potentially disastrous results for both businesses and their customers.

Working in an industry based on trust, no financial adviser can afford the reputational damage or loss of client confidence that can result from a serious cybersecurity failure. And no investor deserves to have his or her private data compromised.

With more than 100 firm members and more than 37,000 adviser members, FSI is in a unique position to help our industry — and the regulators who oversee it — address this crucial business challenge. In June, we will be kicking off our first FSI Cybersecurity Awareness Month, which will feature a series of webinars hosted by technology thought leaders in the independent financial services industry, as well as the release of cybersecurity white papers from some of our sponsors.

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