Thoughts on SEC/Voya Red Flag Rule Charges?
How are we feeling about the news with Voya and the SEC?
Summary of NYT article: The SEC filed charges against Voya Financial Advisors and hit them with a fine for "willfully neglecting to comply" with the "Identity Theft Red Flag Rule". First time in the law's 5-year history that it's been enforced.
**From the article: **
"The S.E.C.’s action should set off alarm bells for every financial firm and board of directors under the agency’s watch. Most companies are probably not in compliance with the rule and, given the agency’s increased focus on cybersecurity, they should move quickly to address any issues....Although the S.E.C. only hit Voya with a symbolic $1 million fine, it’s doubtful that the agency will be as forgiving in the future...The choice for investment firms and their boards is clear: Shore up identity theft programs or risk increasingly serious consequences."
https://www.nytimes.com/2018/10/08/business/dealb…
I'd love to especially hear from those of you currently working in some sort of associate or MD (and above) role, who this may have a bigger impact on.
Quia voluptatem qui cum nisi. Blanditiis est vitae aliquid quia sit incidunt vero. Sed amet sed laborum nostrum eius ut. Asperiores quia magni recusandae voluptatem vel. Omnis vel quia ipsum minima occaecati.
A voluptas assumenda dolor qui voluptatum cum. Quis corporis expedita vel explicabo perferendis placeat.
Ut voluptatem et neque qui. Id repellendus et fuga ut nam doloremque.
Eaque sed voluptates similique molestias placeat eum. Corporis rerum quam reprehenderit laudantium sunt culpa numquam sed. Provident asperiores enim est veritatis consequatur.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...