The Securities and Exchange Commission is urging professionals to take extra steps to ensure the safety of investors’ assets.
The SEC is encouraging firms to “review and make any necessary changes to their policies and procedures around disbursements to investors, including where investors are taking unusual or unscheduled withdrawals from their accounts, particularly COVID-19 related distributions from their retirement accounts.”
This is a clue that if you’re a plan provider in charge of distributing retirement plan assets to participants that you add increased security in the distribution of assets to ensure that there is a zero chance of cyber theft or identity theft.
