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Achieving FINRA-Level Cybersecurity on Microsoft 365

In today’s digital landscape, cybersecurity poses significant challenges, especially for FINRA firms that must comply with the stringent rule 17a-4. Unfortunately, many smaller firms lack the necessary in-house IT resources to effectively navigate the complexities of cybersecurity in the cloud, particularly on Microsoft 365. The stakes are particularly high, as failure to comply can lead to severe fines and reputational damage.

To tackle this issue, AdvisorVault has developed a streamlined four-step approach designed specifically for smaller FINRA firms looking to enhance their cybersecurity posture on Microsoft 365. This approach not only eases firms into compliance but also bolsters their defenses against today's ever-evolving threats.

Step One: Email Filtering

The first step involves deploying advanced email filtering technologies. This is crucial for protecting sensitive email communications within Microsoft 365. The filtering solution includes:

• - AI-driven email scanning that identifies and prevents phishing, malware, and ransomware attacks.
• - 'In-line' filtering that secures both internal and external outgoing messages before they reach users’ inboxes.
• - Robust features like URL rewriting and data loss prevention to thwart data breaches effectively.

These measures ensure that firms can communicate securely without exposing themselves to the various dangers of the digital world.

Step Two: Tenant Monitoring

The second step requires implementing a plug-in that actively monitors the Microsoft tenant. Key features of this step include:

• - Proactive security monitoring that adheres to best practices in cloud security configuration.
• - Detection mechanisms for logins from unfamiliar locations or devices, and identification of unauthorized applications installed by employees.
• - Comprehensive auditing of changes to security configurations along with quick actions to block suspicious sign-ins and disable compromised accounts.

This proactive monitoring allows firms to stay ahead of potential threats, ensuring that their cloud environment is fortified against unauthorized access.

Step Three: Real-Time Endpoint Security

For the third step, firms must establish real-time endpoint security, which is essential for all devices accessing Microsoft 365. This involves:

• - Installation of anti-virus software across desktops, laptops, and mobile devices, including virtual servers and various OS platforms like macOS and iOS.
• - Local application scanning that blocks known and unknown malicious websites, phishing attempts, and other threats.
• - Ransomware scanning to detect and thwart abnormal encryption attacks while facilitating file restoration from backups if necessary.

By securing every endpoint, firms can effectively protect their data and maintain operational integrity against cyber threats.

Step Four: Employee Training

The final, yet equally vital, step is to implement an employee security awareness training program. This should encompass:

• - Automated training modules that educate employees about the nature of current cyber threats.
• - Simulated phishing exercises that allow employees to practice recognizing and responding to attacks.
• - Regular progress assessments for employees, including reminders and tutorials to reinforce their learning and preparation for real-world scenarios.

By investing in employee training, firms can build a culture of cybersecurity awareness, significantly reducing the chances of successful cyber attacks.

In conclusion, AdvisorVault's four-step approach provides clear guidance for FINRA firms aiming to achieve cybersecurity compliance on Microsoft 365. By focusing on these essential areas, firms can safeguard their operations, protect sensitive information, and mitigate potential risks associated with negligence. Ensuring cybersecurity is not just a regulatory requirement; it is a significant step towards sustaining business longevity in a digital-first era.