CFTC approves tighter cybersecurity rules for Derivatives Clearing Organizations, Trading Platforms, Swap Data Repositories LeapRate

December 16, 2015 BY Maria Nikolova

CFTC approves tighter cybersecurity rules for Derivatives Clearing Organizations, Trading Platforms, Swap Data Repositories

Cybersecurity has been in the focus of US financial regulators over the past several months. In October this year, the National Futures Association (NFA) unveiled new cybersecurity rules for its members, including Forex brokers, and in November, the New York State Department of Financial Services (NYDFS) sent an official letter to Financial and Banking Information Infrastructure Committee…

November 24, 2015 BY Maria Nikolova

NFA publishes 2015 Annual Review, focusing on protection

The U.S. National Futures Association (NFA) has just published its 2015 Annual Review, entitled “Protection. That's our purpose”, covering the activities of the organization for the period from July 1, 2014 to June 30, 2015. The document includes the highlights for the period in question, including enforcement actions taken, fines collected and new important rules…

November 10, 2015 BY Maria Nikolova

NY financial regulator considers increased cyber security defenses

Shortly after the National Futures Association (NFA) announced that it will tighten the requirements regarding cyber security for all of its members, including Forex brokers, another US regulator is considering new cyber security requirements. The New York State Department of Financial Services (NYDFS) has sent an official letter to Financial and Banking Information Infrastructure Committee (FBIIC)…

October 29, 2015 BY Maria Nikolova

Optimal Payments investigates alleged breaches of customers' data

Cybersecurity issues keep affecting the work of financial services companies... Online payment services provider Optimal Payments Plc (LON:OPAY) has just announced that it is investigating possible breaches of customers' personal data. The investigation relates to media reports of a small amount of customers' personal data being in the public domain. It has been alleged that…

October 24, 2015 BY Maria Nikolova

US Forex brokers face tighter cybersecurity requirements

Soon after US Forex broker FXCM Inc (NYSE:FXCM) announced it was a victim of a criminal cybersecurity incident involving unauthorized access to customer information, the US financial industry regulators are stepping up their efforts to improve information systems security. The National Futures Association (NFA) announced on Friday that it will tighten the requirements regarding cybersecurity for…

October 01, 2015 BY Maria Nikolova

FXCM comments on incident involving unauthorized access to customer information

The incident, which involved unauthorized wire transfers from a number of customer accounts, is now subject to an investigation by FXCM and the FBI.

February 19, 2015 BY Andrew Saks-McLeod

In today's online financial world, how safe are we from hacking? Not very, says expert

Fingerprint recognition for access to electronic or online accounts offers about as much security as "leaving your house keys under the front doormat" states Professor Mike Jackson, a cybersecurity expert at Birmingham City University

February 04, 2015 BY Andrew Saks-McLeod

Are your funds safe when held by online brokerages? SEC cybersecurity exam of 100 broker-dealers reveals high risk

“Our examinations assessed a cross-section of the industry as a way to inform the Commission on the current state of cybersecurity preparedness. We hope that investors and industry participants will also benefit from what we have learned.” - SEC senior executive Andrew Bowden.

Tag: Cybersecurity