Don't miss our upcoming Network Computing virtual event on Connectivity Solutions - Secure Your Complementary Seat Now!
2:00 PM -- $16.4 million and counting.
That's the amount of fines and penalties levied in the last six weeks by the National Association of Securities Dealers and the New York Stock Exchange on financial services companies that got sloppy with managing or producing electronic business records. (See Regulators Rip Records Managers.)
The article goes on to cite other examples in the last year in which securities firms got dinged for more than $2.5 million.
Chump change when your funds are worth billions? Maybe. But with the alphabet soup that makes up state and federal compliance laws, it's well past time we saw some enforcement action. Are these laws for real or not? Were legislators and regulators serious about protecting shareholders and individuals in the wake of WorldCom/Enron and mounting identity theft losses?
My inner cynic wonders why politicians haven't glommed on to this barrel shoot, especially in an election year. Surely there are others besides N.Y. Attorney General Eliot Spitzer with the nerve and political will to take on banks, insurance companies, and other financial companies. Or is the smarter play not to bite the hand that donates?
With the move to the cloud, CISOs must shift priorities from operating security programs to overseeing (monitoring and auditing) outsourced cybersecurity programs.
2022 was a boon year for IT salaries. 2023 came in like a beast with layoffs, raise freezes, and ChatGPT, but that beast has few teeth.
Age is only a number. Don't let a high number cancel your career.
