Voya Financial Pays $1 Million to Settle SEC Charges for Deficient Cybersecurity
The U.S. Securities and Exchange Commission said the settlement announced Wednesday was the first connected with charges filed under the Safeguards Rule and the Identity Theft Red Flags Rule adopted by the SEC in 2013, which requires financial services companies to adopt policies and procedures to prevent data theft.
September 27, 2018 at 02:56 PM
5 minute read
Headquarters of the U.S. Securities and Exchange Commission.
This story was updated at 6:00 pm Thursday E.D.T. Sept. 27 with comment from Voya Financial Advisors Inc.
Voya Financial Advisors Inc. has agreed to pay $1 million to the U.S. Securities and Exchange Commission to settle charges connected with an April 2016 cyber intrusion that compromised the personal information of more than 5,600 customers at the broker-dealer and investment adviser.
The SEC said the settlement announced Wednesday was the first connected with charges filed under the Safeguards Rule and the Identity Theft Red Flags Rule adopted by the SEC in 2013, which requires financial services companies to adopt policies and procedures to prevent data theft.
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