Regulatory action by US Securities and Exchange Commission: civil penalty
Fund concerned: none named in the filing. The matter concerns the adviser itself, not a specific fund, and none of the insurance-dedicated funds in this file is named.
The Securities and Exchange Commission ("SEC") found that m Holdings Securities, Inc. ("M Holdings") failed to (1) adopt written policies and procedures reasonably designed to protect customer records and information, in violation of Rule 30(a) of Regulation sp (17 c.f.r. § 248.30(a)); and (2) develop and implement a written identity theft prevention program that is designed to detect, prevent, and mitigate identity theft in connection with the opening of a covered account or any existing covered account, in violation of Rule 201 of Regulation sid (17 c.f.r. § 248.201).