Few businesses face the scrutiny that financial firms do. Registered investment advisers, broker-dealers, accounting firms, and insurance agencies across New York, New Jersey, and Connecticut answer to regulators, examiners, insurers, and attackers — all at once. The good news: the controls that satisfy compliance are the same ones that actually protect your firm. This guide decodes the requirements and shows what audit-ready IT looks like.
Why financial firms face the strictest IT scrutiny
You hold sensitive financial data, you move money, and you operate under regulators who can examine you at any time. That combination makes strong, documented IT controls non-negotiable. A lapse isn’t just a breach — it can become a regulatory finding, a failed exam, or a denied insurance claim.
The regulatory alphabet, decoded
The acronyms are intimidating, but each one is really asking the same thing: prove you protect client data and can produce records on demand.
Recordkeeping and communications archiving
Regulators expect you to capture and retain business communications — email and often chat and text — in a tamper-evident, searchable archive. When an examiner asks for records from three years ago, “we think we have them somewhere” is not an answer. Proper archiving turns that request into a five-minute task.
The security controls examiners and insurers expect
- Multi-factor authentication on every account.
- Encryption of data at rest and in transit.
- Endpoint detection and response and continuous monitoring.
- Access controls that limit data to those who need it.
- A written information security program (WISP) that documents it all.
Business continuity and disaster recovery
Regulators expect you to keep operating — and keep client data safe — through disruptions. Tested backups, documented recovery procedures, and clear failover plans aren’t just best practice; they’re an examination item.
Physical security and access control for client data
Safeguarding client information includes the physical spaces and systems where it lives. Access control and surveillance for server rooms and records areas complete the picture — the same standard of protection on the premises as on the network.
A financial services IT compliance checklist
- Maintain a written information security program (WISP).
- Archive communications per FINRA and SEC retention rules.
- Enforce MFA and encryption everywhere.
- Run continuous monitoring and endpoint detection.
- Test backups and document your recovery plan.
- Control and log physical access to client data.
In financial services, your IT controls aren’t just protecting data — they’re protecting your license to operate.
How Solved IT keeps financial firms audit-ready
Solved IT delivers IT, security, and compliance for financial services — and for fintech — as one program. The security stack, the archiving, the documentation, and the physical safeguards examiners expect, all managed under unified compliance management.
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