While regulators and companies have recently focused on cybersecurity efforts to keep data secure, the SEC’s recent administrative proceeding against Deutsche Bank Securities Inc. (DBSI) emphasizes that policies and practices to secure data must continue to safeguard nonpublic information from all types of dissemination methods, from emails and chats, to telephone calls and in-person meetings. The SEC announced last week that DBSI agreed to pay a $9.5 million penalty for (1) failing to properly safeguard material nonpublic information generated by its research analysts, (2) publishing an improper research report and (3) failing to properly preserve and provide electronic chat records sought by the SEC. The SEC emphasized that employees must receive clear definitions and training so that they understand what information should not be shared. See also “How Financial Service Providers Can Address Common Cybersecurity Threats” (Mar. 16, 2016).