Canada Dashboard Digest

OIPC Says IIROC Incident Was Preventable

DATA LOSS

April 19, 2013

Ontario Information and Privacy Commissioner Ann Cavoukian has said the recent loss of financial data of 52,000 brokerage firm clients was preventable, ItWorldCanada reports. The incident could have been avoided, Cavoukian has said, if the Investment Industry Regulatory Organization (IIROC) had used security technologies in tandem with its in-place policies. She added, “What is so ironic is that it was the regulatory body that lost the financial information of 52,000 people.” Canada’s brokerage regulator, the Investment Industry Association of Canada, has sent IIROC a letter demanding to find out why the brokerage community was not informed of the breach sooner, according to The Globe and Mail.
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