September 26, 2018

Investment adviser fails cybersecurity test

The Securities and Exchange Commission announced a settlement with a broker-dealer and investment adviser charged with failing to establish and implement cybersecurity policies and procedures.  The deficiencies were discovered in the context of a breach by cyberintruders, which resulted in the intruders’ obtaining unauthorized access to several brokerage accounts.  The company agreed to pay $1 million to resolve the charges.

SEC Press ReleaseSEC Order