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Futures commission merchant fined for security failure


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Futures commission merchant fined for security failure

The CFTC has ordered AMP Global Clearing LLC to pay $100,000 for failing to supervise its technology provider, which led to a security failure.

In April 2017, a third party accessed the futures commission merchant's information technology network and copied about 97,000 files, including customers' records and information.

The CFTC said the breach happened because AMP Global Clearing failed to properly supervise the implementation of critical provisions in its information systems security program, leaving customers' records and information unprotected during that time.

The regulator said that AMP Global Clearing worked diligently to remediate the issue after it was made aware of the vulnerability and unauthorized access.