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Sara H. Jodka (Member, Columbus) was recently quoted in an InvestmentNews article discussing the Redtail Technology investor data leak, which took place in March. The article, titled “Redtail response to investor data leak may have broken state laws,” investigates alleged claims that Redtail, a company focused on Web-Based Client Relationship Management solutions for financial advisors, broke state cybersecurity regulations by waiting over two months to alert their investors to the breach.
“All 50 states now have regulations requiring companies to notify customers when their personal data is compromised,” Sara told the publication. However, each state has different requirements regarding reporting the breach to users. "Normally, two months is not going to be unreasonable, but it is odd in this [case] because it's an internal issue," she said. "You're not dealing with a nefarious outside force."
“All 50 states now have regulations requiring companies to notify customers when their personal data is compromised,” Sara told the publication. However, each state has different requirements regarding reporting the breach to users. "Normally, two months is not going to be unreasonable, but it is odd in this [case] because it's an internal issue," she said. "You're not dealing with a nefarious outside force."
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