Adding insult to injury, the Securities and Exchange Commission (SEC) fined Voya Financial Advisors Inc. (VFA) $1 million and ordered a comprehensive two-year review by a compliance consultant, following a cyber-attack on...more
The FRB repealed its several regulations including Regulation DD, Truth in Savings and, Regulation P, Privacy of Consumer Financial Information. The Dodd-Frank Act granted rulemaking authority for a number of consumer...more
Last week, the U.S. Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (OCIE) released a Risk Alert announcing its Cybersecurity Initiative....more
On April 19, 2013, the Securities and Exchange Commission (“SEC”) and Commodity Futures Trading Commission (“CFTC” and, together with the SEC, the “Commissions”) published final rules (“Red Flag Rules”) in the Federal...more
UPDATE: The Federal Trade Commission recently issued a revised guide on the Red Flags Identity Theft Rule, designed to help businesses comply with the requirements of the Rule. Compliance with the Red Flags Rule for entities...more
The SEC and CFTC recently issued joint Identity Theft Red Flags Rules (the “Rules”), which are rules and guidelines requiring certain financial institutions worldwide to adopt comprehensive data security programs to detect...more