Defendant Name: Voya Financial Advisors, Inc.

Defendant Type: Subsidiary of Public Company

Document Reference: 2018-213

Document Details

Legal Case Name In the Matter of Voya Financial Advisors, Inc.
Document Name SEC Charges Firm with Deficient Cybersecurity Procedures
Document Date 26-Sep-2018
Document Format Administrative Proceeding
File Number
Allegation Type Broker Dealer
Document Summary The Commission stated that: "The Securities and Exchange Commission today announced that a Des Moines-based broker-dealer and investment adviser has agreed to pay $1 million to settle charges related to its failures in cybersecurity policies and procedures surrounding a cyber intrusion that compromised personal information of thousands of customers."

Disgorgement & Penalty Information

Resolutions
Censured
Compliance Related Independent Consultant
Monetary Penalties:

Civil Penalty

Individual:     $1,000,000.00 Shared:    

Related Documents:

34-84288 26-Sep-2018 Administrative Proceeding
Order Instituting Administrative and Cease-and-Desist Proceedings Pursuant to Sections 15(b) and 21C of the Securities Exchange Act of 1934, and Section 203(e) and 203(k) of the Investment Advisors Act of 1940, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
The Commission stated that: "These proceedings arise out of VFA's failure to adopt written policies and procedures reasonably designed to protect customer records and information, in violation of Rule 30(a) of Regulation S-P (17 C.F.R. § 248.30(a)) (the "Safeguards Rule"), and VFA's failure to develop and implement a written Identity Theft Prevention Program as required by Rule 201 of Regulation S-ID (17 C.F.R. § 248.201) (the "Identity Theft Red Flags Rule")."