PLANADVISER - September/October 2021 - 8

compliance news //
Legislative and Judicial Actions
The SEC Returns to Cybersecurity
Enforcement Pledge
In March, the U.S. Securities and
Exchange Commission (SEC) published
its 2021 examination priorities list. One
of the top items was to make sure firms
are complying with Regulation Best
Interest (Reg BI) and the related Department
of Labor (DOL) fiduciary rule. A
newer development was the division's
enhanced focus on climate change and
issues pertaining to cybersecurity.
The priorities list advised that
the SEC's enforcement division " will
continue to evaluate whether [regulated]
entities have established, maintained
and enforced written [cybersecurity]
policies and procedures as
required. " The list indicates that areas
of focus will include " IT [information
technology] governance, IT asset
management, cyber
threat management/incident
response, business
continuity planning [BCP] and thirdThe
SEC says
the eight
firms, some of
which operate
collectively, have
agreed to settle
the charges.
party vendor management, including
utilization of cloud services. "
Several months later, the SEC
had announced a series of sanctions
against eight registered advisory firms
for failures in their cybersecurity policies
and procedures that resulted in
what the agency describes as " email
account takeovers " ; these exposed the
personal information of thousands of
customers and clients of each firm.
The SEC says the eight firms, some
of which operate collectively, have
agreed to settle the charges. The firms
are the 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. All of these entities were
SEC-registered as broker/dealers (B/
Ds), investment advisory firms or both.
Technically, the SEC's orders
against each of the firms finds that
they violated Rule 30(a) of Regulation
S-P, aka the Safeguards Rule, which
is designed to protect confidential
customer information. The SEC's order
against the Cetera entities also finds
that Cetera Advisors and Cetera Investment
Advisers violated Section 206(4)
8 | planadviser.com September-October 2021 Art by Daniel Shaffer
http://www.planadviser.com

PLANADVISER - September/October 2021

Table of Contents for the Digital Edition of PLANADVISER - September/October 2021

Masterminds of the Plan
"PLANADVISER’s 2021 Top 100 Retirement Plan Advisers"
How to Optimize Connections
Defining Roles
Building Strategic Partnerships
Different Strokes
Cybersecurity Considerations
Provider Recommendations
PLANADVISER - September/October 2021 - Cover1
PLANADVISER - September/October 2021 - Cover2
PLANADVISER - September/October 2021 - 1
PLANADVISER - September/October 2021 - 2
PLANADVISER - September/October 2021 - 3
PLANADVISER - September/October 2021 - 4
PLANADVISER - September/October 2021 - 5
PLANADVISER - September/October 2021 - 6
PLANADVISER - September/October 2021 - 7
PLANADVISER - September/October 2021 - 8
PLANADVISER - September/October 2021 - 9
PLANADVISER - September/October 2021 - 10
PLANADVISER - September/October 2021 - 11
PLANADVISER - September/October 2021 - 12
PLANADVISER - September/October 2021 - 13
PLANADVISER - September/October 2021 - 14
PLANADVISER - September/October 2021 - 15
PLANADVISER - September/October 2021 - 16
PLANADVISER - September/October 2021 - 17
PLANADVISER - September/October 2021 - Masterminds of the Plan
PLANADVISER - September/October 2021 - 19
PLANADVISER - September/October 2021 - 20
PLANADVISER - September/October 2021 - 21
PLANADVISER - September/October 2021 - "PLANADVISER’s 2021 Top 100 Retirement Plan Advisers"
PLANADVISER - September/October 2021 - 23
PLANADVISER - September/October 2021 - 24
PLANADVISER - September/October 2021 - 25
PLANADVISER - September/October 2021 - 26
PLANADVISER - September/October 2021 - 27
PLANADVISER - September/October 2021 - How to Optimize Connections
PLANADVISER - September/October 2021 - 29
PLANADVISER - September/October 2021 - 30
PLANADVISER - September/October 2021 - 31
PLANADVISER - September/October 2021 - Defining Roles
PLANADVISER - September/October 2021 - 33
PLANADVISER - September/October 2021 - Building Strategic Partnerships
PLANADVISER - September/October 2021 - 35
PLANADVISER - September/October 2021 - Different Strokes
PLANADVISER - September/October 2021 - 37
PLANADVISER - September/October 2021 - Cybersecurity Considerations
PLANADVISER - September/October 2021 - Provider Recommendations
PLANADVISER - September/October 2021 - 40
PLANADVISER - September/October 2021 - Cover3
PLANADVISER - September/October 2021 - Cover4
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https://www.planadviserdigital.com/planadviser/may_june_2019
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https://www.planadviserdigital.com/planadviser/november_december_2018
https://www.planadviserdigital.com/planadviser/september_october_2018
https://www.planadviserdigital.com/planadviser/july_august_2018
https://www.planadviserdigital.com/planadviser/may_june_2018
https://www.planadviserdigital.com/planadviser/march_april_2018
https://www.planadviserdigital.com/planadviser/january_february_2018
https://www.planadviserdigital.com/planadviser/november_december_2017
https://www.planadviserdigital.com/planadviser/september_october_2017
https://www.planadviserdigital.com/planadviser/july_august_2017
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