I hope that, by now, everyone understands and appreciates just how freakishly sensitive the regulators are to misconduct involving the wrongful sharing of confidential information. If you don’t, however, FINRA was kind enough to publish two settlements in the last few weeks that work well to drive this concept home. And both share an interesting
Confidential customer information
The Equifax Breach May Be A Problem For More Than Just Equifax
By Alan Wolper on
All of you who use Equifax to conduct a part of your CIP responsibilities, raise your hands. Ok, now, only to those of you whose hands are in the air: how many of you have checked your firm’s incident response plan to determine the steps that need to be taken in the event of a…
FINRA: Too Big To Redact
By Alan Wolper on
A few months ago, I blogged about how FINRA rarely holds itself to the same standards of conduct that it expects from member firms, and I gave some examples. The other day, a good friend of mine brought to my attention yet another example, this one so blatant it can only make you laugh.
As…