A small but meaningful fine of $1.5M by the SEC as it settle charges against GWFS Equities, Inc. (GWFS) for failure to file Suspicious Activity

Andy Watkin-Child
December 15, 2021
Cybersecurity, Governance & ESG, Regulation & Compliance

A small but meaningful fine of $1.5M by the SEC as it settle charges against GWFS Equities, Inc. (GWFS) for failure to file Suspicious Activity Report (SAR) following a recent cyber event. This enforcement action is the first of its kind, and should serve as a reminder to financial institutions subject to SARs filing requirements to promptly evaluate their reporting obligations following cyber incidents.

It’s a small fine but serves as a reminder that the SEC are working on the low hanging fruit.

#ransomware‚Â #fisma‚Â #ofac‚Â #theaugustagroup‚Â #theaugustaplan‚Â #cybersecurity‚Â #supplychainriskmanagement‚Â #cyberriskmanagement‚Â #compliance‚Â #regulatorycompliance‚Â #regulatoryoversight‚Â #esg‚Â #scrm‚Â #cscrm‚Â #cybercompliance‚Â #cyberregulation‚Â #cybergovernance‚Â #digitalcurrency‚Â #blockchain‚Â #cryptocurrencies‚Â #sec‚Â #cyberriskgovernance #securitiesandexchangecommission

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A small but meaningful fine of $1.5M by the SEC as it settle charges against GWFS Equities, Inc. (GWFS) for failure to file Suspicious Activity

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