SEC settles with investment adviser on data security failings

The US Securities and Exchange Commission and investment adviser R.T. Jones Capital Equities Management have agreed to settle charges that the latter failed to establish the required security policies and procedures in the lead up to a data breach that compromised the personally identifiable information of approximately 100,000 individuals.

As part of the SEC’s investigation, it found that R.T. Jones Capital did not have any written policies and procedures designed to protect customer information.  Further, R.T. Jones Capital did not conduct periodic security risk assessments, encrypt personally identifiable information stored on a third-party server, implement a firewall, or maintain a response plan for potential security incidents.

Link: SEC Press Release