SEC charges broker-dealers, investment advisors over cybersecurity failures

  • 📰 Reuters
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 97%

Business News News

Business Business Latest News,Business Business Headlines

Units of three broker-dealer and investment advisory firms agreed to pay hundreds of thousands of dollars in penalties to settle charges from the U.S. Securities and Exchange Commission (SEC) over cybersecurity failures, the regulator said on Monday.

The SEC charged KMS Financial Services, five units of financial firm Cetera, and two units of Cambridge Investment Research 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.

Cetera, Cambridge and KMS did not respond immediately to requests for comment. None of the firms admitted to or denied the findings, the SEC said in a statement. The Cetera entities agreed to pay $300,000, Cambridge agreed to pay $250,000 and KMS will pay $200,000, the SEC said.Sign up for our newsletter

Subscribe for our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

nice

Charge TMobile next, please!

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in BUSÄ°NESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Foreign investment into Saudi Arabia up 13%, says ministerDirect foreign investment into Saudi Arabia rose by about 13% in the first quarter of this year, Saudi Investment Minister Khalid al-Falih said in an interview with Al Arabiya. good Where will you be 𝘄𝗮𝘁𝗰𝗵𝗶𝗻𝗴 the BelgianGP unfold? Earth globe Europe-Africa TAGHeuer Alarm clock Yes, let's invest in a country whose would-be ruler orders the hacking of a Saudi journalist with bonesaw in Turkey. Looks like the investing countries and global conglomerates have no moral and ethical values.
Source: Reuters - 🏆 2. / 97 Read more »