State agency encourages investors to discuss cybersecurity with financial professionals

Special to The Freeman

Jan. 28, 2015

MADISON – The Wisconsin Department of Financial Institutions issued an advisory reminding investors of the importance of protecting the personal information they share with their financial professionals on Wednesday, Jan. 28.

To help investors with that discussion, the department suggests asking the following questions:

     Has the firm addressed which cybersecurity threats and vulnerabilities may impact its business?

     Does the firm have written policies, procedures, or training programs in place regarding safeguarding client information?

     Does the firm maintain insurance coverage for cybersecurity breaches?

     Has the firm engaged an outside consultant to provide cybersecurity services?

     Does the firm have confidentiality agreements with any third-party service providers with access to the firm’s information technology systems?

     Has the firm ever experienced a cybersecurity incident? If so, has the firm taken steps to close any gaps in its cybersecurity infrastructure?

     Does the firm use safeguards such as encryption, antivirus and anti-malware programs?

For more information, contact the department’s Division of Securities at 608-266-1064.