One thing regulators probably won’t ease up on

FINRA and the FCA are keeping an eye on cybersecurity in the wake of coronavirus.

At this point, a lot of businesses are finding out whether they can handle mass, prolonged work-from-home arrangements, as the number of coronavirus diagnoses continues to grow, and more and more localities urge people not to commute. Indeed, as sister title Buyouts has been covering extensively, it is the age of the elbow bump and the virtual meeting.

But, from FINRA to the UK’s Financial Conduct Authority, regulators will be keeping a watchful eye on firms’ and companies’ cybersecurity due diligence as this new development unfolds. Working remotely opens up risks like data loss and weakened privacy protections, and many systems facilitating remote working weren’t designed for prolonged, large-scale use. FINRA put out guidance on March 9, advising vigilance, reported sister title Regulatory Compliance Watch. So did the FCA, as Philippa Kent reports here.

We’ll have more coverage on the impact of the pandemic soon. In the meantime, be safe.

Email prepared by Graham Bippart