The SEC’s Office of Compliance Inspections and Exams (“OCIE”) has announced that cybersecurity will continue to be a focal point for its examinations in 2019. SEC Chairman Jay Clayton has echoed this sentiment, noting that the agency will include access controls as an area of emphasis.
Because of the evolving cybersecurity considerations and industry best practices, all Fairview ShareFile accounts will soon require multi-factor authentication. This requirement will be implemented in 2019.
WHAT DOES THIS MEAN FOR ME?
Multi-factor authentication combines something a user knows (i.e., a username and password) with something the user has (e.g., a phone). As a result, in order to log in to ShareFile, users will have to provide a numeric code in addition to their usual credentials.
Fairview is committed to helping its clients navigate the regulatory landscape as it continues to evolve. Please contact Fairview if you have any questions or concerns about the upcoming implementation of multi-factor authentication.