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ACE IT Solutions and IBM launch cyber security and compliance solutions for hedge funds

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ACE IT Solutions has partnered with IBM to provide security services that help hedge funds mitigate cyber security risks and meet SEC mandates.

The SEC has just issued a risk alert detailing its plans to examine financial firms' cyber security preparedness.

According to IBM's 2014 IBM X-Force Threat Intelligence Quarterly, the financial services industry offers hackers significant potential payoff, accounting for over 20 per cent of all security incidents. A hacker attack could be devastating to a fund and investors will be wary of doing businesses with a fund that has experienced a security breach.

The accuracy of identifying threats is essential so that hedge fund managers can properly mitigate risks. IBM has developed insight into the kinds of attacks that are taking place, who may be launching them and how their techniques are evolving, so funds can take the proper steps to ensure network and data security and prepare for an SEC examination.

IBM's security services, offered in partnership with ACE IT Solutions, deliver a simple way to limit potential threats, improve a hedge fund’s security posture and help reduce the cost and complexity of regulatory compliance efforts.

Services can be customised to meet the needs of any size fund and include:
Review of Internet security policies and procedures
Assess cyber security preparedness
Penetration testing
Managed security and event management
Firewall management
Intrusion detection and prevention system management
Managed protection services, unified threat management
Hosted security event and log management
Hosted vulnerability management
ACE IT Solutions is now offering a complimentary security assessment to help firms evaluate their current security posture and understand what steps need to be taken to reduce cyber security risks. 

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