In the Margins

SEC charges advisory firm for cybersecurity failure

September 24, 2015

By InvestmentNews

St. Louis-based advisory firm R.T. Jones Capital Equities Management has agreed to pay $75,000 to settle Securities and Exchange Commission charges that it failed to have a cybersecurity policy in place before a computer breach compromised clients' personal information. According to the SEC, the firm stored the information of its clients and others on a third party-hosted server. The server was breached in July 20143 and 100,000 individuals' information was compromised. Industry representatives predicted this is the start of similar actions that will be brought by the SEC this year and next. "Further enforcement actions may be derived from deficiencies detected from the SEC's inspections of advisers," Eugene Goldman from McDermott Will & Emery and a former SEC prosecutor, said. Read the original story from InvestmentNews.

 

 

Most Read

Top of the Agenda - Succession
Donohue joins two BNY Mellon Funds board groups

Andrew "Buddy" Donohue has joined two of the five BNY Mellon (formerly Dreyfus) mutual fund board groups led by long-serving independent Chairman Joseph DiMartino. Donohue resigned ...

Top of the Agenda - Compensation
Fund CCOs continue to see pay increases

Mutual fund chief compliance officers saw notable increases in pay again in 2018, though they did not receive as big a pay bump as they did ...

10 Things
10 Things...to read in summer 2019

Hello, Summer 2019! Today's solstice marks the beginning of the season, and that—hopefully—means a slower pace for a few months. Trips to the beach, time on ...