On September 26, in the Securities and Exchange Commission’s (“SEC”) first enforcement action for violations of Regulation S-ID (the “Identity Theft Red Flags Rule”), Voya Financial Advisors Inc. (“VFA”), an SEC-registered investment adviser and broker-dealer, has agreed to settle charges relating to failures in its cybersecurity policies and procedures concerning a cyber-intrusion that compromised thousands of customers’ personal information. VFA agreed to pay a $1 million penalty as well as retain an independent consultant to evaluate its policies and procedures for compliance with the Safeguards Rule and Identity Theft Red Flags Rule.… More
Tag Archives: investment advisers
As many of you may already be aware, the European GDPR goes into effect during May 2018. Below are some frequently asked questions and answers about GDPR as a short guide to assist investment advisers and private fund managers with initial GDPR analysis.
What is GDPR?
It is the new General Data Protection Regulation (GDPR) adopted by the European Union that is intended to protect the “personal data” of natural persons in the European Union.… More
Hedge Fund Association Symposium in Boston
The Securities and Exchange Commission has reiterated that cybersecurity threats and the adoption of sufficient policies and procedures will remain a compliance and examination priority for 2016. Please join us for a discussion of the primary threats facing managers of private funds, particularly emerging managers, and practical steps that they should be taking to protect their business from cybersecurity threats.
This event is complimentary for HFA members and friends of Foley Hoag. … More