SEC settles enforcement suit against stock transfer firm for cyber failings

The Securities and Exchange Commission has reached a settlement with New York-based Equiniti Trust Company, formerly known as American Stock Transfer and Trust Company, addressing the firm’s failure to protect client securities and funds against cyber crime.

The firm agreed to a civil penalty of $850,000 and “a cease-and-desist order and censure” after losing over $6 million in client funds to cyber criminals in 2022 and 2023, according to a Tuesday SEC release.

“American Stock Transfer failed to provide...