SEC Nails Advisory Firm for Cybersecurity Failure before Security Breach


Eugene Goldman predicted that an SEC fine against an investment advisory firm for having inadequate cybersecurity before a data breach took place “is the start of a series of similar actions that will be brought this year and next, derived from deficiencies detected from the SEC’s inspections of advisers.” Mr. Goldman added that firms face « the potential seriousness of the consequences of not having these policies and procedures, particularly the risk of not protecting clients from the hackers of personal information. » Read the full article.