By Adrianne Appel2024-08-21T21:03:00
Equiniti Trust Company has agreed to pay $850,000 to the Securities and Exchange Commission (SEC) to settle allegations that its failed security measures allowed millions in client funds to be stolen in two cyber incidents.
Equiniti, formerly known as American Stock Transfer & Trust Company, experienced two cyber intrusions, in 2022 and 2023, respectively, which led to the loss of more than $6.6 million in client funds, the SEC said a press release Tuesday. American Stock reimbursed clients who experienced losses, the agency noted.
However, it was American Stock’s poor security measures that allowed the intruders to be successful at stealing client assets, the SEC said in its order.
2024-10-16T15:34:00Z By Aaron Nicodemus
It was a double whammy of cybersecurity no-nos for a federal contractor hit with a data breach: The personal data of Medicare beneficiaries contained in unencrypted screenshots were allegedly compromised when their third-party vendor’s server was hacked.
2023-10-05T19:58:00Z By Adrianne Appel
The timing of a recent cyberattack against Clorox juxtaposed against the Securities and Exchange Commission’s adoption of its cybersecurity incident disclosure rule soon to take effect has presented a case study regarding how companies might seek to meet the requirements of the rule.
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As the SEC and FINRA are taking cyber-security much more seriously, John Reed Stark outlines a few ways in which financial firms can also do more to protect their data.
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The U.S. Department of Justice arppoved T-Mobile’s acquisition of competitor UScellular. The move came a day after T-Mobile announced it had dropped its diversity, equity, and inclusion programs, a frequent target for Trump’s administration.
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The state of Florida is investigating Robinhood Crypto for falsely claiming it charges the lowest fees for processing crypto transactions.
2025-07-09T18:02:00Z By Adrianne Appel
CVS has vowed to appeal $948.8 million in fines and damages imposed by a judge Tuesday on its Omnicare unit, for billing Medicare for tens of thousands of false claims.
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