Cybersecurity breaches are rare among investment advisory firms registered with US states, but improvements to technology and procedures could still bolster protection of client information, state securities regulators said on Wednesday.
Just 4% of advisers reported having a "cybersecurity incident" during the years in which they have been registered in their respective states, according to a study by the North American Securities Administrators Association (NASAA). The incidents were as diverse as website breaches and hackers impersonating clients via e-mail.
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