Observations From Broker-Dealer and Investment Adviser Compliance Examinations Related to Prevention of Identity Theft Under Regulation S-ID

Today the Division of Examinations published a Risk Alert to highlight observations from investment adviser and broker-dealers related to compliance with Regulation S-ID. The Risk Alert is intended to assist firms with implementing policies and procedures under Regulation S-ID, which requires the development and implementation of an identity theft prevention program for firms that offer or maintain covered accounts.

The Risk Alert discusses the requirements of Regulation S-ID and issues observed with respect to the identification of covered accounts, establishment and administration of the identity theft program, and the required policies and procedures. Through this alert, the Division encourages broker-dealers and investment advisers to review their practices, policies, and procedures with respect to their identity theft programs and to consider whether any improvements are necessary.

View the Risk Alert: Observations From Broker-Dealer and Investment Adviser Compliance Examinations Related to Prevention of Identity Theft Under Regulation S-ID