LPL Financial Customers Speak Out on BranchNet Hack
After the SEC recently censured LPL Financial for not protecting their BranchNet trading system from unauthorized access, I wondered how LPL’s customers felt about the company and the safety of their personal information. I recently had the opportunity to speak to a few of their customers and financial advisers.
Julie Murphy Casserly, a Certified [...]
Is it Sometimes Better to be Unaware of Your Vulnerabilities?
As I was writing about the hack of LPL Financial’s BranchNet system last week, I couldn’t help but wonder if the Securities and Exchange Commission would have been less harsh on LPL if the company hadn’t known about the vulnerabilities in its system.
In short, LPL Financial performed a security audit on one of its [...]
Hacking of LPL Financial’s BranchNet System a Result of “Reckless Disregard”
Earlier this month, LPL Financial agreed to pay a $275,000 penalty to the Securities and Exchange Commission for failing to fix security vulnerabilities that were discovered in a 2006 internal audit of the company’s security controls. The audit identified that the security controls in LPL’s BranchNet trading system were inadequate, and recommended remediation.
After receiving [...]