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Agio Enhances SEC Cybersecurity Governance Program

Agio Enhances SEC Cybersecurity Governance Program

New portal enables a real-time, streamlined interface that adapts to multiple regulatory frameworks, improving Agio’s overall cybersecurity client experience

 Agio, a leading provider of cybersecurity and managed IT services for the financial services industry, has announced the rollout of its Governance Portal, a new technology platform, powered by Apptega, through which the firm will deliver its SEC Cybersecurity Governance Program. The two-year Program, specifically, is a proactive and methodical approach to cybersecurity under the direction of a virtual CISO. It aligns broker-dealers and registered investment advisers, including hedge funds, private equity firms and asset managers, with the SEC Office of Compliance Inspections and Examinations’ (OCIE) Cybersecurity Risk Alerts and subsequent guidance.

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“Our new Cybersecurity Governance Portal reduces inefficiencies arising from manually checking overlapping regulatory frameworks, reaffirming our commitment to leveraging technology for better client service,” said Ray Hillen, Managing Director of Cybersecurity at Agio. “It applies an ‘assess once, report many’ approach to ensuring compliance with more than 12 existing governance frameworks, including SEC, CCPA, NYDFS 500, SOC 2, CIS V7.1, NIST Cybersecurity Framework v1.1, GDPR, HIPAA Security Rule, HIPAA Privacy Rule, ISO 27001 (A), NIST 800-171, NIST 800-53, SANS Top 20 and PCI.”

From a client experience standpoint, the portal provides a real-time view into the status of their governance program, organizing activities and service requests by priority and progress towards completion. This technology effectively migrates Agio’s delivery of governance programs from word documents and spreadsheets to a controlled, interactive platform.

“We are honored to partner with and empower Agio as the company enhances its management and reporting of cybersecurity and compliance needs for clients,” said Armistead Whitney, CEO at Apptega. “Our partnership with Agio is another example of furthering Apptega’s mission to simplify cybersecurity through our innovative cybersecurity management software, ultimately allowing our partners to provide exceptional client service.”

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The portal’s rollout strategically coincides with the SEC OCIE’s 2020 Examination Priorities and Observations on Cybersecurity and Resiliency Practices, as the regulator ramps up its cybersecurity focus for 2020.

“As regulators publish more mandates around data protection and cybersecurity enforcement, we’re seeing an overwhelming demand from clients for better ways to manage multiple reporting requirements,” continued Hillen. “Our combination of smart tools, dedicated professionals and deep experience navigating SEC audits provides sorely-needed support as financial institutions anticipate more forthcoming regulatory requirements, not fewer. In this fluid environment, where investors and stakeholders alike need greater assurance, it’s crucial to engage third-party experts, like Agio, that can help meet this need at greater efficiency and lower cost.”

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