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.