06.06.24
Mind SEC’s New Data Breach Rules, Says FINRA
by: Leo Almazora
The Financial Industry Regulatory Authority (FINRA) is calling on its member firms to take note of new rules from the U.S. Securities and Exchange Commission regarding data breach notifications. Announced in May, the changes, which FINRA stressed will impact all member firms, require covered institutions to adopt an incident response program and notify individuals if their sensitive customer information is accessed or used without authorization. “These amendments apply to broker-dealers (including funding portals), investment companies, registered investment advisors and transfer agents,” FINRA said.
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