Public fallout from the data breaches that have affected Citigroup and other large enterprises has reached the political push back stage. Sen. Patrick Leahyhas introduced the Personal Data Privacy and Security Act of 2011, which would bring federal criminal charges against enterprises that don't disclose breaches to individuals in a timely manner via mail, telephone or e-mail. Media notices would be required for breaches involving 5,000 or more people. And the FBI and Secret Service would need to be notified if the breach affects 10,000 or more people, compromises databases containing the information of 1,000,000 or more people, or impacts federal databases or law enforcement. In the House, Rep. Mary Bono Mack has introduced a similar bill requiring disclosures to victims within 48 hours of a data breach.
-
As regulators lower regulatory hurdles, many advisors are seeking greater access to private investments, while asset managers and fintechs are trying to eliminate technical barriers keeping regular investors out.
4h ago -
Private-placement life insurance can offer tax-free growth and alternative investments for ultrawealthy clients, but advisors warn it isn't right for everyone who can afford it.
4h ago -
Betterment Advisor Solutions, formerly Betterment for Advisors and Betterment Institutional, is changing its platform fees into a tiered rate that begins at 0.20% for advisory practices with less than $10 million in the business, Betterment CEO Sarah Levy says.
6h ago -
Earn credit toward industry certification while staying up to date on key financial planning topics and strategies.
11h ago -
As the U.N. renews its call for $1.3 trillion a year in climate finance, four leaders in climate finance say the biggest question for advisors is where that money goes.
September 25 -
As AI threatens firms' lucrative business managing uninvested cash, Schwab gives its RIA partners a new way to keep clients' cash holdings sticky.
September 25









