U.S. Securities and Exchange Commission seal in Washington, D.C. Photo: Diego M. Radzinschi/ALM SEC's Electronic-Trader Suit Warns Firms to Protect Investors' Privacy, Securities Lawyers Say
"The SEC will use whatever tools are in its toolbox" to sanction what it regards as a failure to safeguard material nonpublic information, Sidley Austin partner Ranah Esmaili said.
October 17, 2023 at 02:35 PM
4 minute read
The U.S. Securities and Exchange Commission's lawsuit against one of the country's largest electronic trading firms, claiming that it failed to safeguard a database that contained sensitive customer information, is a warning to other companies to prevent misuse of material nonpublic information, securities attorneys said this week.
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