Some of the suggestions that have been provided by regulators include keeping client files in locked rooms or locked cabinets. The files should only be accessible to those individuals within the firm that need the information to perform their jobs. Does your firm shred old documents and files, or are they simply thrown in the waste basket? Measures should be taken to ensure that client information is regularly shredded prior to discarding. Other suggestions include making sure all computers are password protected and screen savers are automatically set to display after inactivity.
If you have any questions concerning the privacy obligations of an investment advisor, please give us a call.
Posted by Bryan Hill