SEC compliance is top of mind for RIAs across the country, and their cybersecurity needs are specific. RIAs have a fiduciary responsibility to protect their clients’ data and assets, which can be vulnerable to cyber attacks. A data breach could result in fines, penalties, and reputational damage. With the SEC proposing new rules to address cybersecurity risks, RIAs need to be prepared to future-proof their practice.
In this episode, Shannon Rosic, director of WealthStack Content and Solutions, speaks with Michael Cocanower, Founder and CEO of AdviserCyber, about what pending regulations mean for RIAs.
Shannon and Michael also discuss:
- What role the advisor plays when mitigating risks
- Why the SEC believes firms are underinvesting in cyber solutions
- What the AI arms races means in the context of regulation
- How RIAs can effectively respond to and recover from a cybersecurity incident
Connect with Shannon Rosic:
Connect with Michael Cocanower:
About Our Guest:
Michael Cocanower is the founder and CEO of AdviserCyber. He has over 25 years of experience in the IT field, and specifically designed AdviserCyber to assist Registered Investment Advisors (RIAs) in complying with the most sweeping SEC cybersecurity requirements in history. Michael has led IT consulting organizations empowering small and mid-market businesses with strategic guidance. Michael is recognized as an Investment Adviser Certified Compliance Professional (IACCP ®), as well as a Certified Ethical Hacker.
Born and raised in Phoenix, Michael earned Bachelor of Science degrees in both finance and computer information systems from Arizona State University. He went on to serve in technology consulting positions for various Arizona-based companies, as well for industry giants such as Microsoft and Cisco. Michael served on the Board of Directors of the International Association of Microsoft® Certified Partners for many years and is also a past president of the Arizona Chapter of Entrepreneurs Organization. Michael is a black belt in the Kang-Sul division of Hwa Rang Do, a trained sniper, and runs in excess of 50 miles per week. In his spare time he is up for just about any type of life adventure offers to him.
