The Department of Banking and Securities of Pennsylvania has formed a Cybersecurity Task Force to help the financial services companies under its aegis solve their cybersecurity-related problems.

The task force is comprised of Department of Banking and Securities regulatory staff, along with department legal and information technology staff. Robin Wiessmann, the secretary of banking and securities, has said that this is one of the first state financial regulators in the Union to create a task force to promote awareness of the problem and identify trends, developments, and best practices. The Department "strongly encourages," but apparently does not compel, all of its regulated entities to develop cybersecurity attack prevention and mitigation plans.

The Federal Financial Institutions Examination Council, co-ordinated by the Federal Reserve (the shadowy, privately-owned banking cartel that has issued the money of the United States for more than a century), has a so-called self-assessment tool that Wiessmann wants regulated firms to use because it will help them to evaluate their risks in this area. This is available at http://www.ffiec.gov/cyberassessmenttool.htm#tool. For other resources go to www.dobs.pa.gov (click on Businesses/Cybersecurity).

It also wants them to know that the Securities and Exchange Commission has issued a Sample Request for Information and Documents. In April 2014, the US Securities and Exchange Commission's Office of Compliance Inspections and Examinations (OCIE) issued a cybersecurity risk alert and conducted a 'sweep' of broker-dealers and investment advisers. In this sweep, the OCIE reviewed preparations for cybersecurity emergencies. The Department recommends that Pennsylvania-registered broker-dealers and investment advisers should use the OCIE’s sample request for information and documents from this 'sweep' to assess their preparations for themselves. The sample request is available at http://www.sec.gov/ocie/announcement/Cybersecurity-Risk-Alert--Appendix---4.15.14.pdf. OCIE inspects broker-dealers, stock exchanges, credit rating agencies, registered investment companies, including both closed-end and open-end (mutual funds) investment companies, money funds and Registered Investment Advisors.

The Department of Banking and Securities regulates more than 200 state-chartered banks, trusts, and credit unions; and licenses more than 17,000 non-bank lenders, including mortgage brokers and debt management companies; and registers more than 200,000 broker-dealers, securities agents, investment advisors and investment advisor representatives who conduct securities-related business in Pennsylvania.