I was talking to someone in the 401k space yesterday and was told of a new cybersecurity compliance mandate that came out that I wasn’t aware of. Apparently, the US Department of Labor sent out these cybersecurity guidelines for plan sponsors. The DOL is now doing cybersecurity audits and if you don’t pass it’s a $14,000 fine. This isn’t about showing what version of Office365 or what firewall you have in place.
This is about the security controls and procedures that run your organization. If I asked you today to show me your policy and procedure for computer updates would you be able to? If the answer is no. then it’s time to reach out for some help before some other unknown regulation catches you off guard.