The Mutual Fund Dealers Association of Canada (MFDA) is launching a program designed to help firms shore up their cybersecurity practices, the self-regulatory organization announced Tuesday.
The program follows on from an assessment survey of dealers that the MFDA commissioned last year that identified areas for improvement.
Also read
The MFDA will be offering dealers expert assessments of their cybersecurity practices and advice on improving their defences. It has hired a cybersecurity consultant to carry out “interactive assessments of the cybersecurity capabilities and readiness” of dealers, the MFDA says in a bulletin.
The program will be rolled out in phases starting with the smallest dealers. Participation in the program is voluntary.