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SEC's Electronic-Trader Suit Warns Firms to Protect Investors' Privacy, Securities Lawyers Say

The National Law Journal spoke to Member David Adams about the recent US Securities and Exchange Commission (SEC) action filed against an electronic trader for allegedly failing to safeguard customer data.

David said, “The SEC has already put the industry on notice in a way that I suspect it wanted to. It expects the industry to do more to protect customer trading information and material nonpublic information (MNPI). Some of what the SEC may have been trying to accomplish has already been accomplished simply by putting the civil action out there.”


The National Law Journal