There may or may not be an end to what human beings can do, but they surely cannot do anything better growing on a consistent basis. This tendency to get better, no matter the circumstances, has already fetched the world some huge milestones, with technology appearing as a rather unique member of the group. The reason why technology’s credentials are so anomalous is purposed around its skill-set, which was unprecedented enough to realize all the possibilities for us that we couldn’t have imagined otherwise. Nevertheless, a closer look should be able to reveal how the whole runner was also very much inspired by the way we applied those skills across a real world environment. The latter component was, in fact, what gave the creation a spectrum-wide presence and made it the ultimate centerpiece of every horizon. Now, having such a powerful tool run the show did expand our experience in many different directions, but even after reaching so far ahead, this prodigious concept called technology will somehow keep on delivering the right goods. The same has grown to become a lot more evident in recent times, and assuming one new fintech-themed development pans out just like we envision, it will only propel that trend towards greater heights over the near future and beyond.
Smartria, a trailblazer in compliance management solutions for Registered Investment Advisors (RIAs), hybrid RIAs and RIA compliance consultants, has officially launched a new solution called Cybersecurity Focus, which is designed to mirror the SEC’s proposed new Cybersecurity Rule. In case you aren’t quite filled in on this new rule, it requires public companies to disclose any material cybersecurity incidents in no more than four business days of that determination. Here, the organization must describe the nature, scope, timing, and impact on the registrant, covering aspects relating to their financial condition and results of operation. Moving on, the mandate also asks from these public companies to describe their cybersecurity risk management mechanism, According to the requirement in question, companies are to share information regarding how they assess, identify, and manage material risks from any potential cybersecurity threats. Not just that, the businesses must also disclose whether they engage assessors, consultants auditors, or other third parties in the context of their cybersecurity risk assessment program. Hold on, there is more, considering the new framework demands details containing the board’s role in overseeing cybersecurity risk, alongside management’s role in assessing material risks from cybersecurity threats. Marked under a new item 106 of Regulation S-K, this particular regulation should ensure that a company’s top brass always has an idea about where they actually stand in their bid to effectively navigate through cybersecurity risks of every imaginable kind.
But how can Smartria’s latest brainchild be helpful here? Well, the stated solution comes decked up with a host of pre-designed templates that are specially made to work alongside the newly-established regulatory standards, therefore helping the user stay compliant at all times. It even makes a point to streamline your workflows and turn them into something that complements our cybersecurity policies in a more effective manner. Apart from it, the feature also cuts back on administrative overhead. Anyway, the next piece of element forming the solution’s value proposition talks to interactive training modules and real-world simulation tests. Although quite extensive in their default form, these tests and training modules are further supported by compliance documentation to bolster staff readiness. Interestingly enough, Cybersecurity Focus also delivers at your disposal a host of specialized tools to manage employee access, bolster incident reporting mechanisms, and facilitate swift responses to potential threats.
“We developed Cybersecurity Focus to align seamlessly with forthcoming regulations,” said Mac Bartine, CEO of Smartria. “Our ultimate goal is to empower our clients with a truly comprehensive cybersecurity solution that not only protects their clients, but also their own firms. We aim to provide our client firms peace of mind by enabling them to effortlessly prove compliance with this vital yet complex new rule, which is currently creating uncertainty and concern within our industry.”
The companies who choose to use Cybersecurity Focus, however, will be able to enjoy much more than just some reporting tools. You see, they will also gain access to comprehensive surveillance of IT infrastructure, devices, and cloud systems, surveillance which will be delivered by CybersecurRIA to be reportable within Smartria. Rounding off these highlights is the solution’s ability to evaluate and monitor third-party vendors for the purpose of protecting sensitive data at every step.
“Securing sensitive information and maintaining cybersecurity has never been more critical in today’s fast-evolving landscape,” said Jonathan Addington, President of CyberSecureRIA. “We founded CyberSecureRIA to secure and support RIAs, and we’re thrilled to partner with Smartria to help enhance cybersecurity and compliance protection for more advisors and their clients.”
As substantial as it sounds, though, Smartria’s commitment to addressing the core tenets of compliance for RIAs is barely restricted to the all-new Cybersecurity Focus product. To put it in simple terms, the company hopes to give RIAs and hybrid RIAs a fair look into solutions that span the entirety of compliance management, and therefore, reduce the present risk for all parties involved.
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