Category: Alerts

Alaric Compliance Alert: SEC Charges Firm with Deficient Cybersecurity Procedures

On September 26th, 2018 the Securities and Exchange Commission announced that a Des Moines-based broker-dealer and investment adviser agreed to pay $1 million to settle charges related to failures in cybersecurity policies and procedures surrounding a cyber-intrusion that compromised personal information of thousands of customers. This is the first SEC enforcement action charging violations of the identify Theft Red Flags Rule.1


Alaric offers several solutions powered by BW Cyber Services to help your firm avoid deficient cybersecurity procedures and comply with regulatory requirements to mitigate the threat of real-world security breaches.

These services include:

  • Cybersecurity Compliance Program Assessment/Gap Analysis
  • Cybersecurity Policy and Procedure Development
  • Penetration and Vulnerability Testing
  • Cybersecurity Due Diligence Reviews of Third Parties
  • Forensic Support for Breaches
  • Ongoing Cyber Security Program Support and Monitoring

Want to know if your company has deficient cybersecurity procedures, practices and policies meet the expectations of the SEC? Call Alaric Compliance today at 1-888-243-2448, or email to learn how Alaric — voted Best Compliance Firm by Alt Credit Intelligence, an HFM Global Publication in 20182 — can help your firm comply with the cybersecurity regulatory requirements.


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