Securities firms are gearing up for cybersecurity and Blockchain projects while hoping the T+2 shorter settlement push will not cause them a major overhaul of operations, according to the latest survey from the International Securities Association for Institutional Trade Communication (ISITC), an industry trade group focused on standards. Yet despite juggling new and incumbent technologies… Read More >>
Soltra Readies Network to Share Cyber-Threat Intelligence
Soltra, a joint venture of the Financial Services Information Sharing and Analysis Center (FS-ISA) and the DTCC, reports that, over the next several months, it plans to roll out the Soltra Network, which is meant to “connect cyber threat intelligence sharing across intelligence producers, intelligence consumers, communities and cyber security tools.” The Soltra Network will… Read More >>
SIFMA and FSR Urge Congress to Pass Cybersecurity Bill
Two industry advocacy trade groups, the Securities Industry and Financial Markets Association (SIFMA) and the Financial Services Roundtable (FSR), have called on the U.S. Senate to move forward quickly, after August recess, to pass the Cybersecurity Information Sharing Act (CISA). The bill, also introduced in 2014, has already passed the House. “The bill will allow… Read More >>
SEC Uncovers Scheme to Trade on Stolen Earnings Data
In a major antifraud action, the SEC has issued charges against 32 participants — hackers and traders —allegedly scheming to trade on corporate earnings announcements via press releases stolen before they were made public. The individuals charged include two Ukrainian men who allegedly hacked into newswire services to obtain the information “and 30 other defendants… Read More >>
BSI Certifies Security for Torstone Technology
Post-trade processing vendor Torstone Technology has been awarded the International Standard Organization (ISO) 27001:2013 specification by the British Standards Institution (BSI), officials say. The ISO 27001:2013 is an information security management specification, which is only awarded “to those companies that can meet the standard as judged by accredited, independent auditors,” according to a company statement…. Read More >>
Tough NY State Data Security Bill Worries Wall Street
A new data security law proposed by New York’s Attorney General Eric Schneiderman could be a boon for cyber-security vendors, and have consequences that reach far beyond New York State, industry observers say. The bill, proposed in late January, seeks to impose tougher disclosure requirements for companies affected by cyber-breaches and heighten standards for data… Read More >>
A Cyber-Threat Group Takes Aim at Financial Advisors
A cyber-security solutions vendor, FireEye, posted on its company blog yesterday that a cyber-threat group, dubbed FIN4, is trying to hack its way to insider-trading information. It’s targeting the confidential communications of many companies, including financial advisors. The hackers, who appear to be Wall Street-savvy, want to steal market-impact information about pharmaceutical and healthcare companies…. Read More >>
Wynyard Hires from British Intelligence Agency
Cyber-security vendor Wynyard Group has hired Andrew France OBE, the former deputy director of cyber-defense operations at British intelligence agency Government Communications Headquarters (GCHQ) as its new strategic advisor of intelligence, officials say. France spent the last years of his GCHQ career developing a national cyber-defense strategy for the U.K., and his hiring reflects a… Read More >>
Security Group Eases Sharing of Threat Data
(Editor’s note: In a separate story FTF News examines the recent cyber-breach at JP Morgan, an attack that illustrates the immense dangers faced by financial services firms every day in the digital realm. Read about it here.) A financial services industry group that shares information on cyber-security threats is finalizing a solution that will help… Read More >>
JPMorgan Cyber-Attack Spurs ‘Fear, Uncertainty & Doubt’
(Editor’s note: In a companion piece to this story, FTF News explores how the FS-ISAC, a financial services cyber threat-sharing group, is automating the sharing of threat information across the financial sector. Read about it here.) The massive cyber-security breach at JPMorgan that compromised gigabytes of sensitive data is dialing up the “fear, uncertainty and… Read More >>
