The SEC announced a settled action against transfer agent Equiniti Trust Company LLC (aka American Stock Transfer & Trust Company) for failing to assure that client securities and funds were protected against theft or misuse.

Equiniti agreed to pay a civil penalty of $850,000 to settle the case. The SEC acknowledged the firm’s cooperation and additional remedial steps that it took voluntarily, including hiring a Chief Control Officer responsible for overseeing cyber security and engaging a third-party cyber security firm to conduct a forensic review of Respondent’s systems.