The protection of customer personal data by branch offices of broker-dealers and investment advisers should be just as robust—and as well-coordinated—as protocols used by the firm’s home office, according to the Securities and Exchange Commission (SEC).
A risk alert issued Wednesday by the SEC’s Division of Examinations found “some firms did not adopt or implement written policies and procedures that address safeguards for their branch offices despite the existence of the same or similar risks.” These failures provide hackers with an avenue to access customer personal information, the agency said.
