Richey May Technology Solutions, a division of Richey May & Co, has developed a comprehensive cybersecurity program specifically designed to assist hedge fund managers in addressing critical cybersecurity compliance requirements, including NYDFS.NYCRR.500, GLBA, and SEC rules related to information security.

The program includes an initial maturity assessment, which is designed to cost-effectively assess a fund’s current posture related to information security and privacy. A report is delivered to fund management that highlights risk areas and gaps identified during the assessment, as well as recommendations for addressing and mitigating key risks through the use of technology, enhancements to policies and procedures, and training.

Also included is ongoing access to Richey May Technology Solutions’ team of experienced cybersecurity professionals to assist with designing and implementing a comprehensive cybersecurity strategy and program. In order to do so, Richey May leverages an expert team of cybersecurity and governance professionals with decades of experience in financial services, including specialists in the compliance, cyber defence, and information technology fields, and including partnerships with leading cybersecurity firms Red Canary, Managed Methods, and technology industry leaders Amazon and Microsoft.

According to the recent Verizon Business Data Breach Report, in 2017, nearly 20 per cent of all cyberattacks with confirmed data and financial loss impacted small- and medium-sized financial services companies, with business email compromise being one of the leading methods of attack. The comprehensive monitoring and analytics delivered by Richey May Technology Solutions help funds understand how their data is being used and provide automated threat intelligence and improved protection.