In April, 2015, The SEC issued cybersecurity guidelines for money managers and investment advisers. These guidelines provided best practices for mitigating information leakage risks and improving data security. Too often many smaller investment houses may not have knowlegeable staff to implement these SEC best practices.
New requirements for merchants will cause a significant shift in business liability for certain types of credit card fraud. But many business owners are not ready and even more have not heard about this change in payment processing.