Beyond BYOD: Mobile Device Management and the Importance of MDM Compliance for Investment Advisers

The New Security Risk

When it comes to mobile devices, investment advisers used to have two choices – either they could provide new employees with a company-issued cell phone or they could adopt a flexible policy permitting the employee to bring in his or her own device. When cell phones were primarily devices used to make and receive telephone calls, the distinction had little regulatory implications. However, the consumerization of information technology has led to powerful mobile computing devices now in the hands of many employees. But left unchecked, the Bring Your Own Device, or “BYOD,” phenomenon has left many advisers with a plethora of mobile platforms and devices accessing their corporate network with varying and often inconsistent levels of security.

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