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Interconnectivity: A Growing Cybersecurity Threat

By Katie Sloane,
Tuesday, March 31st, 2015

In an interconnected world, there is a trade-off between enjoying limitless information at our fingertips and threats that are just one click away. Most of us have become so accustomed to being plugged in, that we forget the world is simultaneously plugging in to us as well.

Global Cyber Threats, Hedge Fund Security

The global evolution of cybercrime continues to push boundaries and raise the bar for technology innovation and advanced security solutions. Indicating the evolving regulatory landscape, the US Securities and Exchange Commission (SEC)'s Office of Compliance Inspections and Examinations (OCIE) announced back in 2014 that it planned to inspect the cybersecurity preparedness of over 50 registered broker-dealers and investment advisers. In 2016, their examinations will continue across the financial services industry, and firms are locking down security practices in advance of these inquiries. Additionally, in Asia, the Singapore Personal Data Protection Act governs the collection, use, and disclosure of personal data.

Categorized under: Security  Hedge Fund Operations  Hedge Fund Regulation  Software  Trends We're Seeing 



Encryption 101: Protecting Your Investment Firm's Sensitive Material

By Kaleigh Alessandro,
Thursday, March 26th, 2015

The amount of data and information that passes through the Internet every day is – for lack of a better term - enormous. And truth be told, sometimes we are sharing information that we don’t want to get into the wrong hands, whether it be via email, instant message or other communications. Think: credit card information, personal information (name, address, social security number, etc.), bank account information or sensitive company or financial data.Security Padlock - Encryption
 
A secure way to transmit this information is through encryption. According to TechTarget, encryption is “the conversion of electronic data into another form, called ciphertext, which cannot be easily understood by anyone except authorized parties.”
 
The history of encryption, believe it or not, began a long time before the Internet existed and we started sending electronic data. The ancient Greeks and Romans, in fact, sent secret messages by substituting letters that only a secret key code could decipher. In the time of Julius Caesar, he created a cipher by which he shifted letters to the left or right to hide his messages.

Categorized under: Communications  Cloud Computing  Security  Hedge Fund Operations  Hedge Fund Regulation  Trends We're Seeing 



What Is Factor Authentication and How Can I Use It?

By Mary Beth Hamilton,
Tuesday, March 24th, 2015

The official definition given in TechTarget’s IT Dictionary reads: “Authentication is the process of determining whether someone or something is, in fact, who or what it is declared to be. Authentication is a process in which the credentials provided are compared to those on file in a database of authorized users’ information on a local operating system or within an authentication server. If the credentials match, the process is completed and the user is granted authorization for access.”

password requiredAt the heart of authentication is controlling access to ensure individuals only access the information they need. With stories of password compromises becoming more common it is important to understand the types of authentication factors available and good computing practices.
 
As part of Information Security Planning, firms should also identify applications, services or websites that require at least one level of authentication (e.g. password protection, PC certificate, or security tokens) as well as any that may require multi-factor authentication.

Following are the three commonly used authentication factors:

Categorized under: Security  Cloud Computing 



Power Up, Power Down: The Hidden Risks of Public Charging Stations, Tools

By Katie Sloane,
Thursday, March 19th, 2015

Smartphone charging station; BYODIn a constantly connected world, the majority of us cannot help but feel reliant on our mobile devices, especially when it comes to battery life percentage.

Whether you’re in the airport, train or just on the go, keeping that effervescent green light out of the red zone becomes a priority, and most will plug into just about anything. With public smartphone chargers on the rise, this resource seems ideal for the battery conscious user. However, prior to plugging in to power up, we suggest proceeding with caution. After all, do you know whose hands that charger was in before?

Categorized under: Security  Communications  Software  Trends We're Seeing 



Client Relationship Management: A "Must-Have" Tool for Hedge Funds

By Katie Sloane,
Tuesday, March 17th, 2015

In today’s market, the pressure from both investors and regulators is at a steady incline. Reporting obligations have grown complex, transparency is in high demand and compliance technology has become a vital component to a firm’s success. With various demands tug-o-warring hedge fund managers in multiple directions, a Client Relationship Management (CRM) platform could be the solution your financial firm has been searching for.  Ledgex CRM, Hedge Fund Technology

Introducing Ledgex CRM, the revolutionary, stand-alone Client Relationship Management solution launched today by our sister company, Ledgex Systems. Ledgex CRM is ideal for managing and tracking investor communications, sales pipelines, client relationships and capital movements. The highly configurable, centralized platform is tailor-made for hedge funds, family offices and asset allocators. 

The new product offers the sophisticated Client Relationship Management capabilities necessary to raise and retain more assets, maintain and grow clients, provide outstanding client service and meet heightened reporting requirements. Out of the box, the web-based solution delivers efficiencies, transparency and flexibility without increasing headcount or costs. By streamlining investor relationship management and capital activity, Ledgex CRM enables managers to optimize their time and focus on fostering relations and growing business.

Categorized under: Software  Hedge Fund Operations  Hedge Fund Regulation  Communications 



Apple Watch: Security Concerns for the Enterprise and Beyond

By Kaleigh Alessandro,
Thursday, March 12th, 2015

By now, you’ve no doubt heard about Apple’s latest tech craze: Apple Watch. Revealed during the company’s latest announcement earlier this week, the Apple Watch is expected to revolutionize the mobile world. Available starting April 24, the Apple Watch will appeal to a variety of end users – with prices ranging from $349 (for the aluminum version) to $10,000+ for gold-plated versions.
Apple Watch
The Apple Watch will feature many of the same abilities of the iPhone – making/answering phone calls and texts, Internet surfing, and app integration as well as new advanced health monitoring features and Apple Pay. But with a user’s data now on his/her wrist in addition to in his/her pocket, should we be concerned about security?

Let’s start with the good news.

Apple Pay, in and of itself, has been thought out well in terms of security, it seems. Users can opt in to use a PIN number which will need to be entered every time the watch is put on a wrist. So if that watch was stolen, it would be impossible for the thief to make purchases via Apple Pay unless they had a user’s PIN number. According to Apple:

“Even if you lose Apple Watch, your accounts are protected. Because when you set up Apple Pay, you’re required to create a passcode. Each time you take Apple Watch off your wrist, the passcode must be entered to access it. And you can quickly remove your cards on iCloud.com."

Categorized under: Trends We're Seeing  Communications 



Business Continuity Focus: Understanding billion-dollar disasters

By Matt Donahue,
Tuesday, March 10th, 2015

In the last 30 years, how many weather events can you remember? Maybe some recent “super storms” come to mind – Hurricane Sandy (2012), and Winter Storm Juno (2015) are probably at the top of your list. How prepared for these storms was your firm? 

A 2007 study by the National Association of Insurance Commissioners (NIAC) found that more than 90% of small businesses interviewed had property/liability coverage while less than half (48%) of firms with annual revenues of more than $1 million have business interruption insurance.

It may not come as a surprise then that, following disasters such as these, many small business (20-40%) are forced to shut down, according to an Institute for Business & Home Safety (IBHS) report. It is important to understand the losses that can affect businesses and prepare accordingly. These losses can include: disruption of critical supplies and inability to move product, utility outages and power failures, employee transportation issues or remote access problems, and connectivity issues, just to name a few.

Categorized under: Business Continuity Planning  Hedge Fund Operations 



Hedge IT Blog Awards: Cheers to 500 Posts!

By Katie Sloane,
Thursday, March 5th, 2015

We recently hit our 500th post here on Hedge IT! To commemorate, we are hosting our annual blog awards! We've gathered the most thought-provoking, popular articles according to our readers and included a few of our personal favorites, as well. 

We hope you enjoy!

Categorized under: Eze Castle Milestones  Cloud Computing  Disaster Recovery  Security  Communications  Videos And Infographics 



Four Hedge Fund Technology Trends Not to Miss

By Anna Wendt,
Tuesday, March 3rd, 2015

Hedge fund technology trends whitepaper

Two months into 2015 and already there have been changes within the financial service industry. From global security breaches, to the demands for increased investor transparency, to start-up funds launching and competing with their enterprise counterparts, the hedge fund landscape is as turbulent as ever. From a hedge fund technology perspective, there are a couple major trends that have started and will definitely continue to play out during the rest of 2015.

Zeroing in on these trends, today we released our new whitepaper aptly titled Four Trends Shaping Hedge Fund Technology. Read on for a sneak-peak of the topics covered in the paper and be sure to download the complete paper HERE.

Categorized under: Trends We're Seeing  Security 



10 Takeaways from the SEC Cybersecurity Exam Findings (Webinar Recap)

By Anna Wendt,
Thursday, February 26th, 2015

Visit our Hedge Fund Cybersecurity Info Center

In case you missed it, earlier this week we hosted a webinar during which our resident cybersecurity expert and SVP of Technology, Steve Schoener, answered questions regarding the results of the recent SEC cybersecurity exams and identified the top takeaways with meaning to hedge funds and investment management firms. Here’s a look at our Top 10 Takeaways from the recent exam findings. If video is more your style, you can watch the full webinar replay here.

1. WISPs are well adopted.

A WISP, or Written Information Security Policy, was found to be employed by 93% of broker-dealers and 83% of registered investment advisers. What is typically included in a WISP document? Similar to business continuity plans, WISPs identify scenarios firms need to be aware of from a security perspective as well as preparedness measures to address those scenarios. Both administrative and technical safeguards are identified, giving firms a complete picture of what to protect and the processes in place to do so.

 

Categorized under: Security  Trends We're Seeing 



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