SEC-PR-2024-101 (Aug. 20, 2024)
SEC Charges Transfer Agent Equiniti Trust Co. with Failing to Protect Client Funds Against Cyber Intrusions – Equiniti, formerly known as American Stock Transfer & Trust Company, lost millions of dollars of client funds
Washington D.C., Aug. 20, 2024 — The Securities and Exchange Commission today announced settled charges against New York-based registered transfer agent Equiniti Trust Company LLC, formerly known as American Stock Transfer & Trust Company LLC, for failing to assure that client securities and funds were protected against theft or misuse. Those failures led to the loss of more than $6.6 million of client funds as a result of two separate cyber intrusions in 2022 and 2023. American Stock Transfer was able to recover approximately $2.6 million of the losses and fully reimbursed the clients for their losses. To settle the SEC’s charges, Equiniti agreed to pay a civil penalty of $850,000.
Date: Aug. 20, 2024
Accessed: Sep. 20, 2024
Source URL: https://www.sec.gov/newsroom/press-releases/2024-101
Categories:
- SEC-2408
- Cyber Intrusion
- Data Security Failures
- Equiniti Trust Company LLC
- American Stock Transfer & Trust Company LLC
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