What Happens When an OSJ Doesn’t Safeguard the Cloud?

Nov 16, 2016 | In The Media

IBDs: Keep your head — or some IT supervision — in the cloud. Independent broker-dealer Lincoln Financial Securities found out the hard way what happens when an OSJ’s cloud server vendor fails to protect customer information from hackers. As part of a FINRA enforcement action, the Fort Wayne, Indiana-based firm agreed to a censure and a $650,000 fine for failing to reasonably “safeguard confidential customer data” and “supervise and retain consolidated reports.”…READ MORE