On June 15, 2021, the U.S. Securities and Exchange Commission (SEC) announced a settlement with real estate settlement services company First American Financial Corporation (First American) over alleged violations of Rule 13a-15(a) of the Exchange Act for failing to protect over 800 million title and escrow documents that contained sensitive, personal, and financial data during a cybersecurity attack.
Financial American had also failed report required information concerning the software vulnerabilities and eventual data breach to the SEC in the required timeframe.
