Unify For Compliance and Risk Managers

Who do we serve:

Compliance and Risk Managers at firms responsible for educating and enforcing cybersecurity polices on employees and 1099 contractor firms that are under their management.

We focus on firms that are regulated by the Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) and state securities boards.

Some of these firms include:
• Broker Dealer Firms
• Insurance Firms
• Office of Supervisory Jurisdiction (OSJs)
• Large Branch Offices
• 3rd party compliance firms

"Cybersecurity Risk Managerment Challenge"

Most Broker Dealers (B-Ds) and OSJs are responsible for thousands of Independent financial services firms within their network. However, in many cases they do not procure laptops, servers, mobile devices, networking and storage Infrastructure Technology (IT) for these independent financial services within their network.

At the same time, these B-Ds have the constant challenge of educating firms that are part of their network about the risks of cyber threats. They need to do this to avoid the risk of any cybersecurity related legal blowback.

Most recently, SEC and FINRA have increased their scrutiny of cybersecurity supervisory practices of large broker dealers. There are countless cases of multi-million $ fines against broker dealer firms.

What do firms do today?

Broker dealers and OSJs can take on the burden of IT procurement and manual supervision of the financial services firms in their field of responsibility. In most cases, compliance and risk managers rely on point-in-time, manual audits and selfreporting to monitor cybersecurity policies today. In some cases BrokerDealer firms take on a very active role in managing and enforcing IT practices. Many B-Ds use 3rd party IT vendors to assist with IT set-up, procurement as well as break/fix support. Some firms may use 3rd party compliance firms to assist with compliance activities as well. At the other end of the spectrum, some B-Ds will recommend purchasing expensive monitoring software with an overlay of installation and management fees. This approach essentially generates highly complex reports that are difficult to understand and not tailored to the needs of the financial industry. Above all, in this case most independent financial firms are unhappy about the level of IT restriction placed on their business!

So, what’s the problem?

So, whose problem is it?

What’s the cost of not doing anything?

This results in more cyber incidents and fines. If a firm experiences a data breach then the reputation damage is enough to adversely affect their business.

What does Entreda do?

Entreda is a software company founded in 2011 with offices in San Mateo, California. Entreda's Unify cybersecurity policy enforcement software analyzes and monitors servers, computers, mobile devices and networks financial firms use in order to verify enforcement of security best practices including compliance with a comprehensive checklist that conforms to FINRA and SEC technology guidelines. Our weekly reports and alerts are customized for the financial services industry and form the basis for audit trail necessary to pass new SEC/FINRA compliance mandates. Our integrated security apps and services complement the cybersecurity monitoring and remediation software together forming a complete enforcement system.

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Smarsh

Smarsh® is the recognized global leader in electronic communications archiving solutions for regulated organizations. Smarsh provides innovative capture, archiving, e-discovery, and supervision solutions across the industry’s widest breadth of communication channels.

Scalable for organizations of all sizes, the Smarsh platform provides customers with compliance built on confidence. It enables them to strategically future-proof as new communication channels are adopted, and to realize more insight and value from the data in their archive. Customers strengthen their compliance and e-discovery initiatives and benefit from the productive use of email, social media, mobile/text messaging, instant messaging and collaboration, web, and voice channels.

Smarsh serves a global client base that spans the top banks in North America and Europe, along with leading brokerage firms, insurers, and registered investment advisors. Smarsh also enables state and local government agencies to meet their public records and e-discovery requirements. For more information, visit www.smarsh.com.

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