ZDNet: Financial companies leak 425GB in company, client data through open database. “An open database is the source of a data leak leading to the exposure of 425GB in sensitive documents belonging to financial companies. On Tuesday, vpnMentor researchers led by Noam Rotem said the database appears to be connected to MCA Wizard, a now-defunct app that appears to have been developed by Advantage Capital Funding and Argus Capital Funding.”
CNN: Facebook denied financial services opportunities to women and older people, lawsuit alleges. “Facebook is facing a proposed class action lawsuit for allegedly denying people financial services products based on age and gender. A complaint filed Thursday in a federal district court in San Francisco alleges that financial services ads on Facebook were targeted away from women and older people over the past three years. The complaint defines older people as those who are at least 40 years old.” That last sentence. OUCH.
InvestmentNews: Beyond BrokerCheck: SEC adds online adviser search tool. “The SEC has added an online search feature to its Investor.gov website that enables investors to check whether advisers have a judgment or order entered against them in an enforcement action. The tool — SEC Action Lookup for Individuals, or SALI — differs from the BrokerCheck site of the Financial Industry Regulatory Authority Inc. in that it contains information about unregistered as well as registered individuals.”
FA Magazine: SEC Creating Searchable Database Of Barred Brokers And Advisors. “Securities and Exchange Commission (SEC) Chairman Jay Clayton told the nation’s top regulators and securities attorneys today that the agency is creating the first-ever website and national database that investors can search to ferret out barred and suspended advisors and brokers. ‘We think this will be particularly valuable when bad actors have shifted from the registered space for investment advisors and broker-dealers to the unregistered space,’ Clayton told attendees at the Practising Law Institute’s 49th Annual Institute on Securities Regulation in New York City today.”