- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
In the SEC's first enforcement action for violations of the Identity Theft Red Flags Rule, Voya Financial Advisors has agreed to pay $1 million to settle charges for having deficient cyber-security policies and procedures concerning a cyber intrusion that compromised the personal information of thousands of customers.
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The Securities and Exchange Commission has set out a demanding enforcement agenda for 2019. At the top of its list: retail investors and cyber-related misconduct.
The SEC’s Enforcement Division issued its annual report this month, highlighting the Division’s activities in fiscal year 2018 from both a qualitative and quantitative perspective. Focusing on enforcement numbers and penalty amounts alone is meaningless, SEC Commissioner Hester Peirce said in recent remarks.
Eight business executives, including the billionaire owner of Indian energy company Adani Group, were charged with fraud for their alleged roles in a multi-million bribery scheme to win a solar energy contract in India.
