SEC fines broker-dealer $1.5M for SARs filing failures
Kyle Brasseur, 12 May 2021
A Colorado-based broker-dealer will pay $1.5 million as part of a settlement with the Securities and Exchange Commission (SEC) announced Wednesday for lapses in the filing of suspicious activity reports (SARs) related to the threat of cyber-breaches.
GWFS Equities, an affiliate of Great-West Life & Annuity Insurance Company, provides services to employer-sponsored retirement plans. The company was allegedly the victim of multiple attempts by bad actors to access the retirement accounts of individual plan participants. GWFS failed to file approximately 130 SARs related to these incidents as required, according to the SEC. Continue reading “Article: SEC fines broker-dealer $1.5M for SARs filing failures”
Lori Beer is the Global Chief Information Officer (CIO) of JPMorgan Chase & Co. and a member of the company’s Operating Committee, responsible for the firm’s technology systems and infrastructure worldwide. Beer joined the firm in 2014, and was most recently the Chief Information Officer for the Corporate & Investment Bank (CIB). Prior to joining the firm she was Executive Vice President of Specialty Businesses and Information Technology for WellPoint, Inc. Beer holds a Bachelor of Science degree in Computer Science from the University of Dayton.