Exclusive: Anatomy Of A Brokerage IT Meltdown – Security –

Exclusive: Anatomy Of A Brokerage IT Meltdown – Security –.
InformationWeek.com has an excellent article up which details the breakdowns in IT policy and procedure which lead the now-defunct stock brokerage, GunnAllen Financial, become the first company to be fined by the SEC for failing to protect customer data.

The article is a hair-raising read and the actions of both GunnAllen and its IT company, The Revere Group, would be almost comical if not for the incredibly serious implications of the cavalier way in which they dealt with sensitive client information.

While this instance is an extreme one, it is an object lesson for companies handling sensitive client information. The consequences of poor data management and data security are dire!

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