Cybersecurity Is Everyone’s Responsibility
Retirement benefit plans have deep pockets—filled with both assets and sensitive information—so it only makes sense that they are a growing target for cyberthieves.
Don’t Be Afraid of DOL, IRS Audits
Assuming there is no malfeasance or criminal activity going on, the process of a DOL or IRS audit does not have to be unpleasant, even if minor issues are discovered.
Actuary Lawsuit Highlights Data Breach Risks
A financial services firm is accused of failing to properly secure and safeguard personally identifiable information provided by and belonging to its customers.
How Financial Services Employees Feel about Cybersecurity
A new study shows that most people working in regulatorily sensitive industries such as financial services are aware of the importance of cybersecurity and privacy policies, but employers should still shape their communications to include more practical tips.
Financial Literacy Commission Eyes Climate Change and Crypto Scams
During a recent hearing, members of the commission discussed the interplay of climate change, crypto assets and the financial wellness of everyday Americans—pledging to take coordinated actions to address a complex web of emerging risks.
SEC Proposes Broad Cybersecurity Disclosure Regulations
The securities market regulator has proposed rule amendments meant to enhance and standardize disclosures regarding cybersecurity risk management and incident reporting by public companies.
Aura’s Digital Protection Solutions Added to MetLife Group Benefits Platform
The solution will safeguard employees' digital identities.
Analyzing Retirement Industry Cybersecurity Risks and Best Practices
SEC Votes to Propose New Cybersecurity Policy Rules
Under the proposal, registered investment advisers and investment companies would have to adopt and implement written cybersecurity policies and procedures ‘reasonably designed to address cybersecurity risks.’
Hub Expects Good Retirement Outcomes for American Workers
A solid retirement plan is essential for workers’ financial well-being and may be just as important as health benefits, the firm argues.
A Shift in the Tech Landscape
Provider Reviews, Contracts Emphasized in DOL Cybersecurity Guidance
Retirement plan fiduciaries often rely on their service providers to create the electronic systems used to maintain participant data and conduct electronic transactions involving plan assets—so the Department of Labor is paying special attention to these relationships.
Strong Cybersecurity Policies Must Be a Firm Priority
From reputational damage to the downstream effect of more expensive fiduciary liability insurance, advisory firms have a lot to lose from lax cybersecurity practices.
Legislative and Judicial Actions
Cybersecurity Considerations
Masterminds of the Plan
SEC Sanctions Offer New Cybersecurity Guideposts
SEC Makes Good on Cybersecurity Enforcement Pledge
Earlier this year, the agency published a list of 2021 examination priorities that prominently featured issues pertaining to cybersecurity, and now it has sanctioned eight firms for related cybersecurity failures.
Cybersecurity and ERISA
Colonial Surety Launches Fiduciary, Cyber Liability Protection Package
The protection provides coverage for the costs of legal services, computer forensic services, public relations and crisis management expenses, and more.