Broker-Dealer Companies

Broker-Dealer Companies

Many broker/dealers perform cybersecurity and IT compliance audits. A broker/dealer’s primary business is trading securities for its own account or on behalf of its customers. Although many broker/dealers are “independent” firms solely involved in broker/dealer services, many others are business units or subsidiaries of commercial banks, investment banks, or investment companies. Implementing a robust compliance program can be used as a competitive advantage. Increasingly, broker/dealers are asked to implement and maintain a compliance program that demonstrates their commitment to a strong system of internal controls. Control frameworks (such as SOC 1, SOC 2, ISO 27001, etc.) are widely accepted and help broker/dealers differentiate themselves from their competitors by demonstrating their commitment to maintaining a strong IT compliance program.