SEC Requiring Financial Advisors To Fight Client Identify Theft

April 24, 2013 Posted in Firm News

April 24, 2013 - Financial Advisor - The Securities and Exchange Commission is requiring that many financial advisors be ready to take action if they see their clients may be threatened by identity theft.

The SEC regulations that will go into effect after being published in the Federal Register will require firms to set up "red flag" files to track what they are doing to prevent identity theft, Luis Salazar, founding partner of the law firm of Salazar Jackson in Miami, Fla., tells Financial Advisor.