Compliance lessons for RIA's from a tough year of enforcement actions

As Advisor Armor has been counseling our clients all throughout 2015 Advisers should be taking demands for cybersecurity policies as seriously as regulators are.   Cyber Security is the sexy and newsworthy term but overall Information Governance (including people, paper, vendors, and cyber) is required.  

Registered investment advisory firm R.T. Jones was fined $75,000 for not having such procedures in place before a hacker gained access to personal data of 100,000 people through the firm’s server, including thousands of advice clients. The Securities and Exchange Commission fined the firm even though the RIA hasn’t received a single report of a client suffering financial harm because of the breach.  MORE