SEC Charges J.P. Morgan, UBS, TradeStation Over Identity Theft Programs

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The Securities and Exchange Commission has separately charged J.P. Morgan Securities, UBS, and TradeStation over alleged failures to adequately develop and implement written identity theft prevention programs. 

The agency’s Identity Theft Red Flags Rule, or Regulation S-ID, requires financial firms with “covered accounts” to have programs in place that detect, prevent, and mitigate customer identity theft. 

“Covered...

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