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Andy G. Anderson

Of Counsel

Spencer Fane attorney Andy Anderson

T 602.333.5447
F 602.333.5431
aganderson@spencerfane.com

SEC Sanctions Broker-Dealers, Investment Advisory Firms for Deficient Cybersecurity Procedures

The Securities and Exchange Commission sanctioned eight registered broker-dealer and investment advisory firms this week for failures in their cybersecurity policies and procedures. Those failures resulted in email account takeovers, which exposed the personal information of thousands of customers and clients at each firm. Those firms paid penalties ranging from $200,000 to $300,000.

Innovations in Arizona’s New LLC Law

After a long 25-year tenure, Arizona’s Limited Liability Company Act will be retiring soon, to be updated by a comprehensive new law, signed by Governor Ducey this last legislative session. I had the distinct pleasure of working alongside a small group of Arizona business lawyers over the past handful of years in drafting the new LLC law.