Our organization hoped the SEC would change course, but the new database has left us with a choice: expose our customers to identity theft or protect their right to privacy. We choose the latter. On Monday the American Securities Association will file a lawsuit against the SEC. We take no pleasure in suing our regulator, and we didn’t come to this decision lightly. But the industry can’t abide a privacy threat to every U.S. investor. Saving and investing for retirement is hard enough. Americans shouldn’t also have to worry about cybercriminals from China and Russia.
‘Enforcement 40’ for 2020
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