Tag Archives: SEC

Is Your Company Complying with the SEC’s Safeguards Rule?

The Securities and Exchange Commission (“SEC”) last week announced that Morgan Stanley Smith Barney LLC (“MSSB”) had agreed to pay a $1 million penalty to settle charges related to its failure to protect private customer information, some of which was hacked and actually offered for illegal sale online. The action involved MSSB’s violation of the … Continue Reading

SEC Announces Focus Areas for Second Round of Cybersecurity Exams of Broker-Dealers and Investment Advisers

On September 15, 2015, the Office of Compliance Inspections and Examination (OCIE) of the Securities and Exchange Commission (SEC) published a Risk Alert to provide additional information on the focus areas for its second round of cybersecurity exams. While the SEC’s oversight with respect to its cybersecurity exam initiative only extends to broker-dealers, investment advisers, … Continue Reading
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