Our vigilance and your data

It is critically important that firms take steps to safeguard their clients’ personal information that could be used to perpetrate identity theft. Recently, an SEC risk alert summarized the results of inspections it conducted last year on 57 broker-dealers and 49 RIA firms “to better understand how broker-dealers and advisors address the legal, regulatory and compliance issues associated with cyber security.” The results revealed that 88% of broker dealers and 74% of advisors have experienced cyber attacks directly or through one or more of their vendors.