On February 9, 2022, the SEC voted 3-1 to propose rules that would significantly expand the risk management and reporting requirements concerning cybersecurity and related matters for registered investment companies (RICs), business development companies (BDCs), and investment advisers registered or required to be registered with the SEC (RIAs) The proposed rules would require advisers and … Read more
In a lawsuit, he alleges the retirement plan service provider did not take steps to protect the personal information of participants in plans it serves. As the level of awareness of Cybersecurity protection of confidential data has increased, however, so has the size and complexity of the cybersecurity problem from the perspective of plan fiduciary. … Read more
Alight has been sued by retirement plan participants whose accounts were hacked, and the Department of Labor is investigating the provider’s practices. Judge John F. Kness of the U.S. District Court for the Northern District of Illinois has ruled that Alight Solutions must comply immediately with a Department of Labor (DOL) administrative subpoena seeking documents … Read more
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