Investment regulator loses portable device containing personal data

The Investment Industry Regulatory Organization of Canada (IIROC) has lost a portable device containing sensitive data on tens of thousands of brokerage firm clients.

How many victims? 52,000.

What type of personal information? The details of the lost information have not been released by IIROC.

What happened? According to a statement by the brokerage regulator, an employee lost a portable device – the type was not disclosed – that contained personal information belonging to clients of various investment firms.

What was the response? Firms whose information was involved in the breach were notified by IIROC, and victims will receive free credit monitoring for the next six years.

Quote: “The protection of confidential information is critical to us, and we have taken steps to address the situation and to immediately strengthen our internal controls,” Susan Wolburgh Jenah, chief executive officer of IIROC, said.

Source: www.theglobeandmail.com, The Globe and Mail, “Brokerage regulator ‘deeply regrets' loss of device with client data,” April 12, 2013.