Background

On August 30, 2021, the Securities and Exchange Commission (SEC) sanctioned eight firms in three actions for cybersecurity failures in their policies and procedures that exposed the personal information of thousands of customers at each firm. These firms included: Cetera Advisor Networks LLC, Cetera Investment Services LLC, Cetera Financial Specialists LLC, Cetera Advisors LLC,

On February 21, 2018, the Securities and Exchange Commission (SEC) published a release entitled “Commission Statement and Guidance on Public Company Cybersecurity Disclosures” (“Release”).  Designed to assist public companies in preparing disclosures concerning cybersecurity risk and incidents, the release expands upon the SEC’s previous guidance in 2011 to emphasize particular areas, including board

On August 7 2017, the U.S. Securities and Exchange Commission (SEC), through its Office of Compliance Inspections and Examinations (OCIE), published a Risk Alert summarizing observations on how broker dealers, investment advisers, and investment companies have addressed cybersecurity issues. The OCIE examined 75 financial firms registered with the SEC. The examinations focused on the firms’