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…
A new proposal from The Financial Industry Regulatory Authority Inc. would require brokerages and the like to encrypt client information provided 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. Comments were due last month. For more information, click here.
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