SEC Adopts Identity Theft Rules For Funds, Advisers

Law360, New York (April 10, 2013, 7:39 PM EDT) -- The U.S. Securities and Exchange Commission on Wednesday adopted rules requiring broker-dealers, mutual funds, investment advisers, and certain other entities regulated by the agency to adopt programs to detect red flags and prevent identity theft.

The SEC said it adopted the rules jointly with the U.S. Commodity Futures Trading Commission in accordance with the Dodd-Frank Act.

The final rules require certain entities regulated by the SEC such as broker-dealers, mutual funds, and investment advisers to adopt an identity theft program. The program should include policies and...
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