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SEC seeks to enhance protection of customer information by updating Reg S-P

People walk through lower Manhattan by the New York Stock Exchange.
Photo: Getty Images

Customers must be notified about data breaches under new rules.

Proposed changes for Reg S-P will enhance the protection of customer information by requiring broker-dealers, investment companies, registered investment advisers, and transfer agents to notify individuals who have been affected by a data breach that may put them at risk of identity theft or other harm.

The proposal comes as