WASHINGTON -- As federal authorities warn of the mounting threats of identity theft, the SEC has moved ahead with rules mandating that many advisors implement policies and procedures to help shield their clients' information from scammers.
As a threshold matter, not all advisors are necessarily subject to the SEC's Red Flags rules, but having in place a framework to deal with identity theft might be considered a best practice for all firms, according to Peter Mafteiu, principal at Sound Compliance Services.
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