Monday, August 30, 2021

SEC Charges Broker-Dealers And Investment Advisors Over Cybersecurity Failures

Units of Three Broker-Dealer and Investment Advisory Firms, Agreed to Pay Penalties to settle Charges from the U.S. Securities and Exchange Commission (SEC) over Cybersecurity Failures, the Regulator said, on Monday.

The SEC charged:

- Five Units of Financial Firm Cetera will Pay $300,000.

- Two Units of Cambridge Investment Research will Pay $250,000.

- KMS Financial Services will pay $200,000.

The Charges were for Failures to, Adopt and Implement Cybersecurity Policies and Procedures, that resulted in Email Account Takeovers, Exposing the Personal Information of Thousands of Customers and Clients at each Firm.

NYC Wins When Everyone Can Vote! Michael H. Drucker

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