At Alpaca, they claim to be all about keeping your data safe and secure.
This is why they’re pleased to announce the successful renewal of its SOC 2 Type 2 compliance.
Alpaca says it takes pride in their commitment “to maintaining the highest standards of data security, actively seeking ways to improve our data security practices.”
The SOC 2 Type 2 compliance assessment, “developed by the American Institute of Certified Public Accountants (AICPA), short for System and Organization Controls 2, evaluates internal control and the ability to protect customer data.”
The assessment focuses “on key trust service principles: security, availability, processing integrity, confidentiality, and privacy.”
The security principle assesses “whether the system is protected against unauthorized access and misuse.”
The availability principle “examines the system’s accessibility and uptime, ensuring it meets agreed-upon service level agreements.”
The processing integrity principle “looks at the accuracy, completeness, and timeliness of data processing.” The confidentiality principle evaluates “whether sensitive information is adequately protected and restricted to authorized individuals.” Lastly, the privacy principle addresses compliance with applicable privacy laws and regulations, “as well as the organization’s own privacy policies.”
This renewal affirms that their security controls and procedures are “designed effectively to safeguard sensitive information.” By adhering to industry standards, they provide their users and partners with confidence in their platform’s security and reliability.
Alpaca users can trade “with peace of mind, knowing that their data is protected.”
Alpaca will continue to “prioritize data security, implementing robust security measures, and strengthening a secure environment for our users.” They remain dedicated “to investing in the latest technologies, training for our team, and adopting best practices.”
As noted in the update, securities brokerage services are “provided by Alpaca Securities LLC (Alpaca Securities), member FINRA/SIPC, a wholly-owned subsidiary of AlpacaDB, Inc.”
Technology and services are “offered by AlpacaDB, Inc.”
Cryptocurrency services are “made available by Alpaca Crypto LLC, a FinCEN registered money services business (NMLS # 2160858), and a wholly-owned subsidiary of AlpacaDB, Inc.”
As clarified in the update, Alpaca Crypto is “not a member of SIPC or FINRA.”
Cryptocurrencies are “not stocks and your cryptocurrency investments are not protected by either FDIC or SIPC.”
