Jessa C

Jessa C.
Bacho
BSA II
June 27, 2019
Prelim
Quiz 4
WHY INFORMATION SECURITY AND CONFIDENTIALITY IS IMPORTANT

IN YOUR WORKPLACE?
written by SecurityMatters™ Newsdesk
April 15, 2016
Reality is, the global marketplace is a highly competitive plane where knowledge is the
key to industry wins and losses. Information is power, and harnessing that power in the 21st
century are security and confidentiality. (Panama Papers, anyone?)
According to an IDC Energy Insights report, one of the key findings include Western
European utilities investing the most in cybersecurity in 2016. Data loss and leakage prevention,
mobile security, and cloud security are found to be top priorities in that regard. The shifting of
lenses towards cybersecurity is now realized on an international scale wherein the first Cyber
Investing Summit, an event featuring investment opportunities in the industry, will take place on
Wall Street this year.
The emphasis on cybersecurity begs the question, does your workplace value the
information it gains and holds? How vigilant is it when it comes to data breach? No matter the
scale, every workplace must ensure and enforce security and confidentiality of its information
assets among its employees, clients, and other business partnerships. These assets may refer to
information processed in the back office: business process outsourcing, recruitment,
compensation, employee management and other processes, or information delivered in the front
office: client transactions, partnership deals, and contract information. When an organization
fails to protect information on its employees, management, and business, a varied number of
unfavorable consequences can occur.
To avoid fraud and identity theft, the HR department stores and protects employee
information. This covers employees’ social security number, personal contact information (home
address, phone numbers, email address), family/background information, etc. Not all information
kept confidential is for the sake of preventing something illegal from happening. Sometimes,
information is kept confidential in the workplace, like management information, to prevent
detriment to the morale of employees. Disclosing issues of terminations, disciplinary actions, and
employee misconduct are counterproductive and can be dealt by the employee/s involved and
HR. While there are sensitive information, such as financial data, business plans, customer and
supplier lists, and other records on the processes and manufacturing methods and processes, that
are kept from public eye, especially from competitors. Business information, or “trade secrets”,
are protected through confidentiality agreements because if these secrets are leaked, you are
losing your competitive edge. And when information on customers are leaked, like credit card
numbers of clients, not only can fraud and other illegal actions be committed, but also the
eventual loss of present and even future clientele. Once your client’s trust and goodwill are lost,
it is almost impossible to regain.
With data theft on the rise, ensure that there is appropriate access, usage and information-
distribution policies set in place and enforced in your workplace. Be aware of the most common
causes of data theft and breach: weak security controls, hacking, loss or theft of devices, and OS
vulnerabilities. Increase the level of awareness in the workplace of the effects and threats to
information security. Information is critical to the lifeline of your company.
This article is exclusively written for SecurityMatters by Area Creatives Hub or ARCH Offices, a
Seattle-inspired office space in the heart of Makati Central Business District that offers Staff
Leasing services in an urban community to support developing businesses.
Retrieved From: https://www.securitymatters.com.ph/why-information-security-and-confidentiality-

is-important-in-your-workplace-13414/
Investor Protection Act
Reviewed By Will Kenton
Updated Jun 19, 2018
DEFINITION of Investor Protection Act

The Investor Protection Act is a component of the Wall Street Reform and Consumer
Protection Act of 2009 designed to expand the powers of the Securities and Exchange
Commission (SEC). The act established a whistleblower reward for reporting financial fraud,
increased liability for aiding and abetting and doubled funding to the SEC over a five-year
period. The act was part of regulators' attempt to prevent some of the problems that caused
the financial crisis of 2008-2009 from reoccurring in the future.
BREAKING DOWN Investor Protection Act

The Wall Street Reform and Consumer Protection Act of 2009 was created to improve
accountability and transparency in the financial system. It included a Consumer Financial
Protection Agency that would regulate mortgages, auto loans and credit cards.
The Investor Protection Act, also known as the Investor Protection Act of 2009,
established the Investor Advisory Committee to consult with the SEC. The committee advises on
such topics as regulatory priorities and issues that surround new financial products, fee structures
and trading strategies. It also provides consultation on initiatives to protect investor interest and
to promote investor confidence in the market’s integrity.
Powers Granted to Regulators by the Investor Protection Act

The legislation gave additional powers to the SEC that included authorization to gather
information, communicate with investors and the public and launch programs for the protection
of investors.
The Investor Protection Act increased safeguards and rights for whistleblowers. This
included granting the SEC the authority to recommend granting whistleblowers monetary
rewards of up to 30% of sanctions that exceed $1 million. The law also established the SEC’s
Investor Protection Fund, which pays awards to whistleblowers. The fund also supports investor
education initiatives.
Further whistleblower protections offered through the act include prohibitions on

employers from demoting, suspending, firing, threatening or otherwise discriminating against
employees or agents who provide information to the SEC or assist in investigations. A
whistleblower is authorized to take legal action if such issues take place.
False or fraudulent statements made by would-be whistleblowers are subject to

prosecution under the act. The act includes amendments to prior legislation that includes
the Securities Investor Protection Act of 1970 (SIPA) and the Sarbanes-Oxley Act of 2002.
The changes to SIPA include an increase to the minimum assessment paid by Securities
Investor Protection Corporation members from a flat $150 per year to 0.02% percent of the
member's gross revenues from the securities business. The borrowing limit on U.S. Treasury
loans was also increased from $1 billion to $2.5 billion.
An amendment to Sarbanes-Oxley added brokers and dealers to the Public Company

Accounting Oversight Board’s sphere of oversight.
Retrieved From: https://www.investopedia.com/terms/investor-protection-act.asp

Jessa C

Uploaded by

Copyright:

Available Formats

Jessa C

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Jessa C

Uploaded by

Copyright:

Available Formats

Jessa C.

WHY INFORMATION SECURITY AND CONFIDENTIALITY IS IMPORTANT

Retrieved From: https://www.securitymatters.com.ph/why-information-security-and-confidentiality-

DEFINITION of Investor Protection Act

BREAKING DOWN Investor Protection Act

Powers Granted to Regulators by the Investor Protection Act

Further whistleblower protections offered through the act include prohibitions on

False or fraudulent statements made by would-be whistleblowers are subject to

An amendment to Sarbanes-Oxley added brokers and dealers to the Public Company

Retrieved From: https://www.investopedia.com/terms/investor-protection-act.asp

You might also like