Firms, reps affected by CIRO breach

The Canadian Investment Regulatory Organization (CIRO) confirmed that personal information about industry firms and registered reps was compromised in a cyber breach reported last month.

The self-regulatory organization announced that it will be offering two years of credit monitoring and identity theft protection from TransUnion and Equifax to reps affected by the breach.

The SRO said that, at this point, it doesn’t have any evidence that the information that was compromised in the breach has been misused, but that it is contacting the “impacted individuals” and will be offering them risk mitigation services.

“As we continue our investigation and learn more, we will continue to provide updates,” it said.

Previously, CIRO reported that it detected the breach on Aug. 11, and shut down some of its systems “to ensure their safety and immediately started an investigation.”

At the time, it suggested that its initial investigation indicated that some personal information about firms and their reps was affected.

James Langton

James is a senior reporter for Advisor.ca and its sister publication, Investment Executive. He has been reporting on regulation, securities law, industry news and more since 1994.