The North American Securities Administrators Association ismulling a model cybersecurity rule for investment advisors andis currently developing cyber guidance and a “checklist” for smalladvisory firms to use to assess their cyber preparedness.
“Cybersecurity is a growing challenge for the securitiesindustry and for securities regulators at all levels,” MikeRothman, NASAA president and Minnesota commissioner of commerce,said Friday at NASAA’s Cybersecurity Roundtable in Washington. “Nosecurities firm or investment advisor of any size can afford theloss in client trust — much less financial losses — that willresult from a serious cybersecurity failure. And no investor shouldhave his or her personal information compromised or hard-earnedmoney stolen.”
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Melanie Waddell
Melanie is senior editor and Washington bureau chief of ThinkAdvisor. Her ThinkAdvisor coverage zeros in on how politics, policy, legislation and regulations affect the investment advisory space. Melanie’s coverage has been cited in various lawmakers’ reports, letters and bills, and in the Labor Department’s fiduciary rule in 2024. In 2019, Melanie received an Honorable Mention, Range of Work by a Single Author award from @Folio. Melanie joined Investment Advisor magazine as New York bureau chief in 2000. She has been a columnist since 2002. She started her career in Washington in 1994, covering financial issues at American Banker. Since 1997, Melanie has been covering investment-related issues, holding senior editorial positions at American Banker publications in both Washington and New York. Briefly, she was content chief for Internet Capital Group’s EFinancialWorld in New York and wrote freelance articles for Institutional Investor. Melanie holds a bachelor’s degree in English from Towson University. She interned at The Baltimore Sun and its suburban edition.
