Two affiliated broker-dealers settled FINRA charges for lacking reasonable cybersecurity controls at branch offices. The failures resulted in multiple incidents that exposed thousands of customers' personal information.
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An SEC and CFTC joint final rule adopting amendments to Form PF will go into effect on March 12, 2025. The final rule was published in the Federal Register.
The National Security Division and the Department of Justice requested comment on potential rulemakings related to the implementation of U.S. President Joseph R. Biden's Executive Order authorizing the Attorney General to take actions to prevent the transfer of Americans’ personal data to countries of concern.
U.S. President Joseph R. Biden issued an Executive Order authorizing the Attorney General to take actions to prevent the transfer of Americans’ personal data to countries of concern.
FinCEN proposed to include "investment adviser" in the definition of "financial institution" under the Bank Secrecy Act. The proposed rule would require advisers to implement AML/CFT programs and maintain recordkeeping requirements.