Seattle IT Services Helps Local Credit Unions and Venture Capital Groups Meet FINRA and SEC Regulations.

Within the past few years concerns have been raised at the FINRA (Financial Industry Regulatory Authority) and SEC (Security and Exchange Commission) regarding the safeguarding of customer information. This is because an increasing number of individuals in the financial services industry are now telecommuting or working part time from their homes or when traveling.

As a result FINRA and the SEC have mandated that credit unions, venture capital groups and financial institutions adopt written policies and procedures that address the protection of customer information and records. They must be designed to:

  1. Ensure the security and confidentiality of customer records and information;
  2. Protect against any anticipated threats or hazards to the security or integrity of customer records and information; and
  3. Protect against unauthorized access to, or use of, customer records or information that could result in substantial harm or inconvenience to any customer.

The FINRA and SEC haven’t said how to specifically do this, however the following are the minimal guidelines that should be followed in order to avoid penalties:

  1. Existing policies and procedures must adequately address the technology currently in use;
  2. Appropriate technological precautions must be made to protect customer information;
  3. Adequate training must be provided to employees regarding the use of available technology and the steps employees should take to ensure that customer records and information are kept confidential; and
  4. Periodic audits should be conducted to detect potential vulnerabilities in systems and to ensure that systems are, in practice, protecting customer records and information from unauthorized access.

This is a lot for any credit union or venture capital group to address.  The good news is that Seattle IT Services in Seattle can help to ensure your organization meets all of these requirements.   

Don’t risk your organization’s ability to comply with FINRA and SEC Regulations.

Schedule ongoing Risk Audits with Seattle IT Services.

The Compliance Specialists at Seattle IT Services can conduct a thorough Risk Audit to confirm you meet these and other regulatory requirements. Failing to conduct a Risk Audit can result in:

  • An increased chance of a data breaches.
  • U.S. Government enforcement and hefty penalties.
  • The ruination of your reputation.
  • The end of your organization.

Don’t risk costly penalties or the ruination of your business business. Contact the Compliance Specialists at Seattle IT Services in Seattle for a no-obligation consultation by calling (206) 651-3000 or emailing us at:

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—Mark Chamberlain
LKD Aerospace
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