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inSecurities

127 episodes - English - Latest episode: about 16 hours ago -

PLI’s in-depth podcast examining changes to securities rules, regulations, and cases from a practitioner’s perspective in both law and accounting.

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Episodes

Won’t Get Fooled Again: Kelly Richmond-Pope Talks Fraud Cases

March 28, 2024 15:31 - 42 minutes - 59.1 MB

Dr. Kelly Richmond-Pope has been a thought leader in the forensic accounting space for more than a decade. She joins Chris to discuss her accounting origin story, her academic research as a professor at DePaul University in Chicago, and her side gigs as a filmmaker and author, having produced a 2013 documentary All the Queen’s Horses about fraud in Dixon, IL, and her 2023 book Fool Me Once: Scams, Stories, and Secrets from the Trillion-Dollar Fraud Industry. For more about Dr. Richmond-Pope’...

Investing in Public Blockchains

March 14, 2024 14:42 - 38 minutes - 53.4 MB

Matt Walsh, Founding Partner of Castle Island Ventures, a venture capital firm focused exclusively on public blockchains, joins the inSecurities podcast to talk about the regulatory landscape and market structure challenges for entrepreneurs who are building #blockchain infrastructure and application companies. Matt also tells Chris and Kurt about his podcast, On the Brink, which explores the political, ethical, and economic significance of #Bitcoin and other public blockchains.

The Commodities Enforcement Landscape: Spoofing, Manipulation and More

February 29, 2024 17:16 - 56 minutes - 79.5 MB

On this episode of the inSecurities podcast, Chris and Kurt tackle commodities enforcement. Jamie McDonald, a Partner at Sullivan & Cromwell and a former Director of Enforcement at the Commodity Futures Trading Commission, and Avi Perry, a Partner at Quinn Emanuel Urquhart & Sullivan and a former Chief of the Market Integrity and Major Frauds Unit in the Department of Justice Criminal Division’s Fraud Section, offer their perspectives on civil and criminal commodities investigations and enfo...

Bonus Episode: Boxes and Lines | IEX Exchange

February 28, 2024 15:22 - 47 minutes - 65.5 MB

Check out our inSecurities hosts Chris Ekimoff and Kurt Wolfe as guests on this special episode of Boxes and Lines from IEX Exchange.

Betterment’s View of the Regulatory Landscape

February 15, 2024 15:26 - 41 minutes - 57.8 MB

Josh Rubin, Vice President of Legal at Betterment, joins the inSecurities podcast to discuss Betterment’s view of the regulatory landscape. Josh explains how Betterment navigates the sometimes overlapping rules and regulations of the SEC, FINRA, DOL, IRS, FDIC, and CFPB — then tells Chris and Kurt why Betterment doesn't always line up with the rest of the financial services industry when it comes to rulemaking proposals.

The Cost of Regulation: Setting the SEC’s Budget

February 01, 2024 17:07 - 40 minutes - 55.8 MB

Anne Kelley joins the inSecurities Podcast to unpack the federal agency appropriations process. Anne is a Partner at the legislative consulting firm, Mercury Strategies. Before joining Mercury Strategies, Anne served as a political appointee at the SEC where her work spanned five Administrations and nine SEC Chairs and Acting Chairs. On this episode, Anne explains to Chris and Kurt how most federal agencies obtain government funding, and why the SEC’s budget-setting process is unique.

Capital Ideas With Martha Legg Miller

January 19, 2024 13:00 - 47 minutes - 64.8 MB

On this episode of the inSecurities podcast, Chris and Kurt chat with Martha Legg Miller, the Vice President of Public Policy and Regulatory Strategy at Fidelity Investments and former Director of the SEC’s Office of the Advocate for Small Business Capital Formation. Martha talks about the role of the Advocate for Small Business Capital Formation, highlights key takeaways from the Office’s 2023 Annual Report, and discusses recent SEC rulemaking proposals, including the Predictive Data Analyt...

2024: A Cardinal Year for Crypto

January 04, 2024 15:32 - 41 minutes - 57.4 MB

Perianne Boring, the Founder and CEO of the Chamber of Digital Commerce, joins the inSecurities Podcast to explain why 2024 will be “the year crypto goes mainstream.” Chris, Kurt, and Perianne chat about the history and mission of The Chamber, the digital assets crypto and regulatory environment, and Perianne’s 2024 outlook for crypto.

The SEC’s Approach to Rulemaking and Predictive Data Analytics

December 21, 2023 15:47 - 48 minutes - 66.9 MB

Brett Redfearn, a former Director of the SEC’s Division of Trading and Markets and the Founder and CEO of Panorama Financial Markets Advisory, joins the inSecurities podcast to discuss the Commission’s approach to rulemaking and its recent Predictive Data Analytics (PDA) rule proposal.

Zeke Faux on Number Go Up

December 07, 2023 15:55 - 44 minutes - 61.9 MB

On this episode of the inSecurities Podcast, Chris sits down with investigative reporter Zeke Faux to talk about his book Number Go Up: Inside Crypto’s Wild Rise and Staggering Fall. 

An Expert Panel Assesses the SEC’s Annual Enforcement Report

November 17, 2023 18:48 - 58 minutes - 80.5 MB

Quinn Emanuel partners Michael Liftik, Sarah Heaton Concannon, and Dabney O’Riordan join this special episode of the inSecurities Podcast to unpack the SEC Division of Enforcement’s Annual Report, which was released on November 14, 2023. Kurt and the expert panel discuss the Division’s motivation to post impressive enforcement statistics and grab headlines with high impact cases. The panel also discusses programmatic priorities, including perennial focus areas like investment adviser cases,...

An SEC Insider on Insider Trading and Broken Windows

November 16, 2023 17:45 - 44 minutes - 61 MB

Vinson & Elkins partner Rebecca Fike joins the inSecurities podcast to talk about insider trading, the SEC’s use of artificial intelligence and data analytics to root out misconduct, and the Enforcement Division’s focus on reporting and disclosure cases, including Environmental, Social, and Governance (ESG) reporting. She also explains how the Commission’s focus on charging even technical violations feels a bit like the return of the “broken windows” approach to enforcement. Rebecca draws on...

A Busy Day at the Securities Enforcement Forum

November 02, 2023 17:07 - 53 minutes - 74.5 MB

Miller & Chevalier Partner Sandra Hanna returns to the inSecurities podcast to discuss key takeaways from the Securities Enforcement Forum 2023. Sandra and Kurt talk about SEC Chair Gary Gensler’s remarks at the conference, which covered the SEC’s annual enforcement results, crypto enforcement, and the SEC whistleblower program. They also dive into the important topic of self-reporting: When, why, and how to do it.

Commissioner Pham on Crypto Regulation

October 19, 2023 16:02 - 25 minutes - 35.9 MB

After their discussion on CFTC enforcement, Kurt and CFTC Commissioner Caroline D. Pham discussed the current state of crypto regulation in the United States and the CFTC’s role in policing the digital assets marketplace. Tune in for the second installment of Commissioner Pham’s interview on the inSecurities podcast. For more insights from Commissioner Pham on crypto regulation: On speaking orders in enforcement actions On self-reporting and cooperation On management accountability On...

CFTC Commissioner Pham on Policing the Largest Markets in the World

October 19, 2023 16:01 - 58 minutes - 80.8 MB

Commissioner Caroline D. Pham of the Commodity Futures Trading Commission joins Kurt on the inSecurities podcast to talk about the CFTC’s regulatory mandate, the role of CFTC enforcement, and the perils of what she calls “examination by enforcement.” Among other things, Commissioner Pham stresses the deterrent effect of holding wrongdoers accountable, the need for regulatory clarity (particularly when regulators test novel enforcement theories), and the importance of upholding the CFTC’s jur...

Lay Down SALY

October 05, 2023 19:24 - 49 minutes - 68.5 MB

They’ve been waiting all year long just to talk to George. On this episode of the inSecurities podcast, Chris and Kurt sit down again with SEC Institute Director George Wilson to discuss recent SEC reporting, compliance, and accounting developments, including recent signals from the SEC’s Chief Accountant Paul Munter, the state of play in crypto accounting, developments in the SEC’s Office of the Whistleblower, and — just in time for Halloween — new C&DIs in the CorpFin candy dish. Plus, Chr...

Commissioner Uyeda on “the Perils of Regulation by Theory and Hypothesis”

September 21, 2023 15:30 - 50 minutes - 69.3 MB

On this episode of the inSecurities podcast, Chris and Kurt chat with SEC Commissioner Mark T. Uyeda about the state of the U.S. capital markets, Commissioner Uyeda’s views on the SEC rulemaking process, and “the perils of regulation by theory and hypothesis.” 

Addressing the “Netflix Problem” in Securities Regulation

September 07, 2023 13:37 - 50 minutes - 69.6 MB

In July 2023, the SEC proposed new rules that would require broker-dealers and investment advisers to address conflicts of interest that could arise from their use of predictive data analytics. On this episode of the inSecurities podcast, Chris and Kurt welcome back Professor James Tierney to talk about the proposed data analytics rule and Professor Tierney’s recent paper, “The SEC’s data analytics rule and the ‘Netflix’ problem in securities law.”   Read Professor Tierney’s paper here: ht...

How much in disgorgement!?

August 24, 2023 14:39 - 42 minutes - 59 MB

J.W. Verret, an Associate Professor of Law at the George Mason University Antonin Scalia Law School and a long-time friend of the inSecurities podcast, sits down with Chris and Kurt to discuss his new paper “Disgorgement Accounting After Liu v. SEC in Securities Enforcement Cases.” Professor Verret’s article is the first to link Liu’s directives on disgorgement to fundamental accounting principles. The result is an article at the intersection of securities law and accounting. Chris, Kurt, an...

The Dangers of Regulation by Enforcement

August 10, 2023 13:54 - 42 minutes - 58.9 MB

Nick Morgan, a Partner at Paul Hastings and Founder of the Investor Choice Advocates Network (ICAN), joins the inSecurities podcast to discuss the dangers of “regulation by enforcement.” Nick, Chris, and Kurt consider two amicus briefs ICAN filed that underscore the important differences between the traditional notice-and-comment rulemaking process and the SEC’s effort to expand the rulebook through enforcement actions. 

Alternative Asset Managers in the Crosshairs

July 27, 2023 17:08 - 33 minutes - 45.7 MB

On this episode of the inSecurities podcast, Chris and Kurt chat with Bryan Corbett, who serves as President and CEO of the Managed Funds Association, a Washington, D.C.-based industry group representing the alternative asset management industry. Bryan describes the role and advocacy work of the MFA, and discusses potential consequences of an unprecedented wave of SEC rulemakings for alternative asset managers, including the private funds proposal.

(Remedial) Accounting Summer School

July 13, 2023 17:40 - 30 minutes - 42.7 MB

The inSecurities Accounting Summer School series returns with this “remedial” course on fundamental accounting principles from the “House of GAAP.” On this episode, Chris and Kurt break down the “matching principle” and “conservatism,” and talk about what can happen when companies get it wrong.

Opening the Securities Enforcement Answer Book

June 22, 2023 17:54 - 36 minutes - 50.9 MB

Chris and Kurt catch up with Jennifer Leete, partner at Cravath, Swaine & Moore and author of the newly updated SEC Compliance and Enforcement Answer Book from PLI Press. In the Answer Book, Jennifer and her co-authors draw on their extensive experience serving on the staff at the SEC to answer hundreds of real-world questions on topics such as cooperating with the SEC, handling parallel investigations, the Wells process, and remedies and sanctions; a number of substantive hot topics, like c...

A View From the Inside

June 08, 2023 14:48 - 52 minutes - 73 MB

On this episode of the inSecurities podcast, Chris and Kurt dive into the ever-evolving world of insider trading. This episode picks up on themes our co-hosts addressed back on Episodes 4 (A Deep Dive Into Insider Trading) and 38 (Forensic Analytics: Algorithms and Analysis in Securities Markets), and brings listeners current on new trends and developments in the area of insider trading prosecutions.

Replay - On the Path to Well-Being: Expert Perspectives for Attorneys and Accountants

May 25, 2023 17:02 - 1 hour - 91.4 MB

In recognition of Mental Health Awareness Month, Chris and Kurt revisit one of their favorite “off beat” episodes: On the Path to Well-Being: Expert Perspectives for Attorneys and Accountants. On this episode of the inSecurities podcast Chris and Kurt explore about some of the challenges many attorneys and accountants face, and how they can set out on a path to wellness. First, Chris and Kurt chat with Denise Perme, Associate Director of the D.C. Bar’s Lawyer Assistance Program, to talk abo...

inSecurities Goes to the Movies

May 11, 2023 17:41 - 36 minutes - 50.4 MB

Summer blockbuster season is right around the corner. On this episode of the inSecurities podcast, Chris and Kurt talk about three movies that hit on a number of the securities regulatory and enforcement themes that often feature on inSecurities. Hang in for the final act, when Chris previews a financial crisis-era movie that might not be on your summer viewing list.

Whistling the Same Tune: Building an Effective Whistleblower Program

April 27, 2023 19:05 - 56 minutes - 51.7 MB

On this episode of the inSecurities podcast, Chris and Kurt revisit Episode 47 (“Whistleblower Tips: Advice From a Former Chief of the SEC’s Whistleblower Office”), on which Jane Norberg, a partner at Arnold & Porter who previously served as the Chief of the SEC’s Whistleblower Office, discussed the SEC’s whistleblower program and how companies can develop internal reporting systems that encourage, triage, and investigate whistleblower tips.

The CorpFin Candy Dish

April 13, 2023 13:50 - 55 minutes - 76.7 MB

George Wilson, the Director of PLI’s SEC Institute, joins the inSecurities podcast to talk about the recent Compliance and Disclosure Interpretations (C&Dis) — or as George likes to call them, “candies” — issued by the SEC’s Division of Corporation Finance, as well as changes in leadership at the SEC, the FASB’s take on crypto accounting, and amendments to Rule 10b5-1.   Please note: CLE and CPE credit are not offered for listening to this podcast, and the views and opinions expressed with...

Compliance and Enforcement Considerations for Private Funds & RIAs

March 30, 2023 14:47 - 50 minutes - 70.1 MB

On this episode of the inSecurities, Dabney O’Riordan, a partner at the law firm Quinn Emanuel and a former head of the SEC Enforcement Division’s Asset Management Unit (AMU), discusses the enforcement focus on private funds, registered investment advisers, and broker-dealers. She also explains the Enforcement Division’s focus on compliance with recordkeeping requirements for text messages and other “off-channel communications,” the SEC’s marketing rule, and ESG-related investment products a...

Commissioner Jaime Lizárraga’s Core Values

March 16, 2023 20:14 - 1 hour - 85.8 MB

SEC Commissioner Jaime Lizárraga joins the inSecurities podcast to talk about his road to becoming an SEC Commissioner and the core values he brings to the role. Commissioner Lizárraga also offers his thoughts on the SEC’s investor protection mandate, recent SEC proposals, digital asset securities, and diversity, equity, and inclusion (DEI). Commissioner Lizárraga encourages investors to visit Investor.gov (in English or Spanish) — the SEC’s online portal — for tips for avoiding investment ...

Crypto Winter in Washington

March 02, 2023 15:06 - 1 hour - 84.4 MB

On this episode of the inSecurities podcast, Chris and Kurt sit down with Joshua Rivera, General Counsel of Blockchain Capital and a member of Blockchain Association’s Board of Directors, to learn about the state of the crypto markets and how the SEC’s positions on staking, registration requirements, and the custody rule may impact the digital assets ecosystem. inSecurities Homepage Episode page on PLI.edu   Please note: CLE and CPE credit are not offered for listening to this podcast, a...

Paredes on SEC Policies & Priorities

February 16, 2023 16:15 - 57 minutes - 52.6 MB

Former SEC Commissioner Troy Paredes joins Chris and Kurt to discuss securities regulatory policy, rulemaking, and enforcement, including potential rules or guidance relating to environmental, social, and governance (ESG) disclosures and digital asset securities. inSecurities Homepage Episode page on PLI.edu   Please note: CLE and CPE credit are not offered for listening to this podcast, and the views and opinions expressed within represent those of the speakers and not necessarily those...

An Expert on the “Monster of Wall Street”

February 02, 2023 14:45 - 58 minutes - 80.1 MB

Bruce Dubinsky is a forensic accountant with experience in a number of blockbuster cases, including the Enron scandal and the Lehman Brothers collapse. Bruce has also appeared as an expert witness in matters relating to the Bernie Madoff Ponzi scheme and recently featured in the new Netflix documentary Madoff: The Monster of Wall Street. On this episode of the inSecurities Podcast, Chris and Kurt chat with Bruce about the important role of forensic accountants and his work on the Madoff matt...

Blockbuster Securities Cases

January 19, 2023 15:43 - 52 minutes - 72.3 MB

The securities regulatory landscape is constantly evolving. Over the years, the federal securities laws and SEC rules have been shaped and reshaped by a number of blockbuster cases. Those cases get at key questions, such as: What is a security? How much deference do we owe the SEC to interpret the federal securities laws? Who makes statements that may form the basis of a securities fraud claim? And what is the statute of limitations for SEC enforcement action? On this episode of the inSecuri...

Crypto, Best Ex, Gatekeepers, Enforcement: The Biggest Stories From 2022

January 05, 2023 15:53 - 38 minutes - 53.2 MB

Chris and Kurt mark the New Year with a look back at the biggest securities regulation and enforcement stories from 2022. The hosts revisit episodes featuring Stephanie Avakian, Michael Liftik, Carla Carriveau, Jim Toes, and Matt Jacques, whose comments and predictions remain relevant, even as we enter a new year.

Setting the Standard: Tom Sporkin on CFP Board Enforcement

December 15, 2022 16:18 - 39 minutes - 54.8 MB

As Managing Director of Enforcement at CFP Board, Tom Sporkin leads the organization’s detection, investigation, and prosecution activities. On this episode of the inSecurities podcast, Chris and Kurt chat with Tom about the CFP® certification and how CFP Board enforces its Code of Ethics and Standards of Conduct when CFP® professionals are alleged to have fallen short of their obligations. Learn more about CFP Board and its Enforcement team here: https://www.cfp.net/.   

CYBER THURSDAY!

December 01, 2022 14:41 - 39 minutes - 54.6 MB

It’s been nearly two years since we talked cybersecurity on the inSecurities podcast. On this “Cyber Thursday” episode, Chris and Kurt bring you up to speed on important regulatory and enforcement developments that are shaping the cybersecurity landscape.    

BONUS EPISODE: Unpacking the Annual SEC Enforcement Report

November 22, 2022 15:46 - 44 minutes - 61.5 MB

On November 15, the SEC announced its Enforcement results for Fiscal Year 2022, along with annual results from the SEC’s Office of the Whistleblower. On this bonus episode of the inSecurities podcast, Chris and Kurt discuss some of the key takeaways from the reports — and recruit help from past guests Sarah Heaton Concannon (Quinn Emanuel), Teresa Goody Guillén (BakerHostetler), Jane Norberg (Arnold & Porter), and Howard Scheck (StoneTurn) to unpack the results. [Read the SEC’s Annual Enfor...

Accounting for Enforcement

November 17, 2022 21:02 - 50 minutes - 69.4 MB

On this episode of the inSecurities podcast, Chris and Kurt chat with Matt Jacques, a former Chief Accountant for the SEC’s Division of Enforcement. Matt discusses the role of the Chief Accountant, the auditor’s responsibility for identifying fraud, and a few hot topics in SEC accounting and disclosure cases, including materiality and revenue recognition. 

Securities Wheel of Fortune

November 03, 2022 15:19 - 53 minutes - 73.8 MB

There’s a lot happening in the securities regulatory and enforcement space. On this episode, Chris and Kurt spin the securities wheel of fortune to pick a few hot topics, including a reminder of the auditor’s responsibility for fraud detection, an SEC Enforcement sweep involving text messages, executive compensation clawbacks, and outsourcing by investment advisers.

Securities Regulation at an Inflection Point

October 20, 2022 16:02 - 46 minutes - 64.3 MB

Security Traders Association President and CEO Jim Toes joins Chris and Kurt to unpack key themes from the STA’s 89th Annual Market Structure Conference in Washington, D.C., including crypto regulation, best execution, “gamification,” payment for order flow and other market plumbing issues. Learn more about the STA here: https://securitytraders.org/. 

The Highest Duty of Care: Preserving the Fiduciary Standard

October 06, 2022 14:36 - 52 minutes - 71.8 MB

On this episode of the inSecurities podcast, Kurt sits down with Knut Rostad, co-founder and president of the Institute for the Fiduciary Standard, to talk about the fiduciary standard registered investment advisors owe their clients, how the SEC interprets that standard in 2022, the challenges and opportunities for advisors created by the SEC’s interpretation and Regulation Best Interest, and what the future of the fiduciary standard might look like. Knut also shares details about panel dis...

Investor Protection for ESG Investing and Complex Products

September 22, 2022 16:26 - 53 minutes - 73.7 MB

On this episode of the inSecurities podcast, Chris and Kurt chat with Micah Hauptman, who recently returned to the Consumer Federation of America as Director of Investor Protection, having previously served as counsel to SEC Commissioner Caroline Crenshaw. Micah talks about noteworthy accomplishments during his time at the Commission and breaks down several investor protection rules and policies CFA supports, including initiatives relating to ESG investing and complex products. 

Top Takeaways from The SEC Speaks in 2022

September 15, 2022 17:54 - 50 minutes - 69.6 MB

Chris and Kurt recently attended PLI’s annual SEC Speaks conference in Washington, D.C. During the program, high-ranking SEC officials offered their views on the SEC’s top regulatory and enforcement priorities. On this episode of the inSecurities podcast, Chris and Kurt discuss their takeaways from The SEC Speaks in 2022. On the agenda: crypto regulation and enforcement, SEC rulemaking, auditing and accounting updates, and developments within the SEC’s Division of Enforcement.

TEASER – SEC Speaks From the Conference Floor

September 08, 2022 16:21 - 5 minutes - 5 MB

Chris and Kurt discuss their initial thoughts live from PLI's The SEC Speaks in 2022 program. There’s still time to register, so click over to www.PLI.edu and sign up for the virtual attendance option, or stay tuned for a special episode next week when our co-hosts will discuss more of what they saw and heard at SEC Speaks!

FASB, the Climate, and SOX. Oh my!

August 25, 2022 15:23 - 53 minutes - 74.1 MB

On this episode of the inSecurities podcast, Chris & Kurt catch up with George Wilson, Director of PLI’s SEC Institute, to discuss recent developments at the SEC and possible changes on the horizon for FASB and PCAOB standards. Plus, to commemorate the 20th anniversary of the Sarbanes-Oxley Act, George tests Chris & Kurt with some SOX trivia.

Accounting & Audit Enforcement Trendspotting

August 11, 2022 14:25 - 48 minutes - 67.2 MB

Accounting Summer School continues as Chris and Kurt chat with Howard Scheck, a Partner at StoneTurn Group LLP and a former Chief Accountant in the SEC’s Division of Enforcement. They discuss Howard’s career as a JD/CPA, his experience in the Division of Enforcement, and his take on today’s trends in accounting and audit enforcement.

A GAAP in Your Financial Reporting: Focusing on Accounting & Disclosure Issues (Rebroadcasted)

July 28, 2022 16:30 - 1 hour - 94.4 MB

While Chris and Kurt enjoy some time away during their summer, "Accounting Summer School" continues with a rebroadcast of our episode from November 2020: A GAAP in Your Financial Reporting. On this episode of InSecurities, Chris and Kurt take a deep dive into the complex issues regarding accounting fraud and issuer disclosures. Our co-hosts discuss the basic tenets of accounting, the securities laws applicable and often charged in accounting fraud matters, and recent cases that demonstrate t...

AICPA & CIMA, and the Future of Accounting

July 14, 2022 16:35 - 46 minutes - 42.5 MB

For more than 100 years, the American Institute of Certified Public Accountants (AICPA) has led the profession through triumphs and challenges in a dynamic financial reporting and auditing environment. In recent years the AICPA has collaborated with the Chartered Institute of Management Accountants (CIMA) to continue to lead accountants globally with a focus on staying current for their members and the markets as a whole. Tom Hood, Executive Vice President for Business Growth and Engagement...

Securities Fraud 20 Years After SOX

June 30, 2022 15:29 - 1 hour - 93.9 MB

Marking 20 years since the passing of the landmark Sarbanes - Oxley Act of 2002, Chris and Kurt talk about SOX’s origin story; its perceived influence on accounting, auditing, and the law; and the lasting implications of SOX in today’s markets. They are joined by Professor James J. Park of the UCLA School of Law, who returns to the podcast after discussing SEC Enforcement trends in Episode 30, as he shares his take on SOX and talks about his upcoming book The Valuation Treadmill: How Securit...

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