SEC Fines 8 Firms for Cybersecurity Lapses - NewsBreak

The Securities and Exchange Commission (SEC) today sanctioned eight firms in three actions for failures in their cybersecurity policies. The companies were also penalized for faulty procedures that resulted in email account takeovers exposing the personal information of thousands of customers and clients at each firm. The eight firms, which have agreed to settle the charges, are Cetera Advisor Networks LLC, Cetera Investment Services LLC, Cetera Financial Specialists LLC, Cetera Advisors LLC, Cetera Investment Advisers LLC, Cambridge Investment Research Inc., Cambridge Investment Research Advisors Inc., and KMS Financial Services Inc. (KMS). All were SEC-registered as broker-dealers, investment advisory firms, or both.