Cyber attack garners possible regulatory attention (IGNITES and Financial Advisor IQ)

A hack into a business communications company set off alarms at two brokerage firms that rely on the company for printed communications, payment processing and mailings. The cyber intrusion of RR Donnelley earlier this month caused disruptions for customers of Vanguard and Fidelity. It could lead to regulatory attention if the broker-dealers’ monthly account statements were affected by the hack, explains FrontLine’s Founder and President Amy Lynch. The FINRA rule requiring these firms to confirm when trades are executed may be the impetus behind any regulatory investigation of the incident, stated Ms. Lynch. See IGNITES (subscription required), “RR Donnelley Hack Led to Fidelity, Vanguard Snags” and Financial Advisor IQ, “RR Donnelley Hack Behind Fidelity Communications Outage, Possible Vanguard Online Access Issues”