FINRA: Rule proposal aims to protect client info
A new proposal from the Financial Industry Regulatory Authority Inc. would require brokerages and the like to encrypt client information stored on such portable media devices as CD-ROMs or DVDs in certain situations.
A new proposal from the Financial Industry Regulatory Authority Inc. would require brokerages and the like to encrypt client information stored on such portable media devices as CD-ROMs or DVDs in certain situations. The proposed rule essentially calls for encryption of data, such as client names and Social Security numbers, when Finra requests information related to an investigation, complaint, examination or adjudicatory proceeding. The goal would be to prevent the information being obtained and abused by a third party. For more information and details on submitting comment by July 16, click here.
Learn more about reprints and licensing for this article.
