cybersecurity of network of connected devices and personal data security, concept on virtual interface with consultant in background
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The Mutual Fund Dealers Association of Canada (MFDA) is launching a program designed to help firms shore up their cybersecurity practices, the self-regulatory organization announced Tuesday.

The program follows on from an assessment survey of dealers that the MFDA commissioned last year that identified areas for improvement.

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The MFDA will be offering dealers expert assessments of their cybersecurity practices and advice on improving their defences. It has hired a cybersecurity consultant to carry out “interactive assessments of the cybersecurity capabilities and readiness” of dealers, the MFDA says in a bulletin.

The program will be rolled out in phases starting with the smallest dealers. Participation in the program is voluntary.