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SEC hits Voya for cyber security lapse with rarely invoked rules

Kirkland & Ellis partners Sunil Shenoi and Erica Williams are quoted regarding the significance of last month's U.S. Securities and Exchange Commission announcement of a $1 million fine against an investment firm for its cyber security policies and procedures. The decision is the first invocation of the Safeguard identity theft rule requiring broker-dealers and investment advisers to address the protection of customer records in writing. 

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This article appeared in its entirety in the October 9, 2018 edition of Business Insider.