“The security of confidential information is a critical concern at the department, and we are interested in learning more about how issues of cybersecurity impact investment advisers under our jurisdiction,” Director Gavin Gee said.
A pilot project conducted by the North American Securities Administrators Association this summer found 4.1 percent of responding investment adviser firms had experienced a cybersecurity incident and 1.1 percen, had experienced theft, loss, unauthorized exposure or unauthorized use of or access to confidential information. The survey found that 62 percent of firms said they have undergone a cybersecurity risk assessment, and 77 percent have policies and procedures related to technology or cybersecurity.
“With incidents of cyber-attacks in the financial services industry increasing, I encourage investment advisers registered in Idaho to participate in our survey and take adequate steps to ensure that their cybersecurity policies and procedures are up to date,” Gee said.
©2014 The Idaho Statesman (Boise, Idaho)
