Facing Individual Liability In Data Security Breaches
June 27, 2011, 4:05 PM EDT
Law360, New York (June 27, 2011, 4:05 PM EDT) -- Companies in all business sectors, including investment services, face significant risk from data security breaches. Not only do these data security breaches often make headline news — which is bad for business — but consumers, the legislature and government agencies alike now demand that companies employ measures that protect private and personal identifying information, or PII, from authorized disclosure.
Recently, the U.S. Securities and Exchange Commission turned its spotlight on brokerage firms, enforcing Regulation S-P with renewed vigor and imposing fines on both violating firms and...