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The increased need for cybersecurity has prompted Smarsh, a compliance and regtech firm backed by K1 Investment Management, to acquire Entreda.

Financial terms weren’t announced. Entreda, of Santa Clara, Calif., provides cybersecurity risk and compliance-management software and services for wealth managers. Crestlight Ventures, the largest outside investor in Entreda, exited its holding with the sale.

Entreda will operate as a stand-alone subsidiary of Smarsh and continue to be led by CEO and co-founder Sid Yenamandra. No job cuts are expected. “Our emphasis will be on growing the Entreda business as quickly as possible,” said Brian Cramer, Smarsh’s CEO.

Regulators, including Finra and the Securities and Exchange Commission, have increased their expectations of what wealth firms should do to manage…

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]]> https://risk-academy.ru/helping-financial-services-firms-better-control-risks-from-remote-working/ Fri, 22 May 2020 18:25:03 +0000 https://risk-academy.ru/helping-financial-services-firms-better-control-risks-from-remote-working/

Getting a handle on remote working and compliance issues continues to be a challenge for wealth management firms. Many don’t know when or if they’ll return to offices and pre-pandemic working conditions, prompting many financial services firms to assess the risks of remote working and look for ways to improve security and compliance.

In order to help clients with these challenges, Smarsh acquired Entreda, a cybersecurity risk and compliance management provider for wealth management firms. The acquisition will give Smarsh’s 6,000 financial services clients access to cutting-edge enterprise cybersecurity risk and compliance capabilities.

“In the past few months, more and more companies have asked for our help in addressing the regulatory, compliance and cybersecurity risks associated with the move to long-term remote-work models and the expanded use of mobile and collaborative communications technology, such as Microsoft Teams, Slack and Zoom,” said Smarsh CEO Brian Cramer. “They are seeking smarter integrations, highly responsive service and support, as well as enterprise-level solutions that assist in the capture and supervision of these additional platforms.”

As…

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