Financial Tracking Technologies denies any breach involving SEC staff brokerage data

Because reputation is important and because I covered accusations by the SEC that their contractor, Financial Tracking Technologies, LLC, improperly disclosed staff personal stock account data to a subcontractor or subcontractors, it seems only right to publish FTT’s response denying the allegations:

With respect to the notice that the SEC provided to employees, Financial Tracking Technologies, the provider of automated compliance software relied upon by top financial institutions across the globe, assures SEC employees and all of its users that no breach of systems resulting in any misuse of personal data occurred.

Tony Turner, Managing Principal of Financial Tracking Technologies said, “We understand that the SEC decided to notify its employees regarding certain access to our system by a reputable sub-contractor. That access was authorized and was subject to our supervision and monitoring at all times, and the data within our system — including SEC employee data — remained under our control at all times. No data left our system, and, as the SEC indicated, there is no evidence of any misuse of any data. We are working with the SEC to address any concerns that it may have, and we remain committed to continuing to provide appropriate protections to safeguard our systems and our customers’ information.”

Turner stated further, “There were several inaccuracies being propagated. The first of which was that there was no prior notice of a third party vendor. In an effort to always provide full disclosure and transparency, our long-term software developer was featured in our formal, bound proposal, as well as in subsequent Business Continuity Plans, SAS70 and IT Security documents, all of which are distributed to clients. It is unfortunate that a former consultant created an incident where none ever existed nor could exist.”

About Financial Tracking Technologies, LLC

Founded in 1999, Financial Tracking is the proven leader in automated compliance software (patents pending) with modular features. The SEC is a client. Financial Tracking has over 1,200 software interfaces with third parties such as prime brokers, custodians, broker/dealers, portfolio accounting and trade order management systems, allowing seamless data integration and rapid onboarding. Companies using its software include money managers, hedge funds, regulators, mutual funds, fund of funds, broker/dealers and private equity firms.

SOURCE: Financial Tracking Technologies, LLC

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