The Minnesota Department of Commerce is reminding financial service registrants, particularly state-registered investment advisers, to report any known issues or concerns related to the recent SolarWinds cybersecurity incident to their primary securities regulator.

In December 2020, the federal government reported that SolarWinds, a vendor that provides updating and monitoring software to numerous government agencies and private companies, was the victim of a breach that caused SolarWinds Orion Network Management Products to transmit malware to many of its clients, including federal, state, and local governments, as well as other private sector entities.

The U.S. Department of Homeland Security’s Cybersecurity & Infrastructure Security Agency has issued this Supply Chain Compromise Alert that describes the threat and provides guidance on how to address it.

The Minnesota Department of Commerce is issuing this reminder to raise awareness among state registrants and to provide information and resources to help those affected to recover quickly and protect their clients and colleagues.

Any firm with known malicious versions of the SolarWinds Orion software should contact its primary regulator. State-registered investment advisers in Minnesota should contact the Department of Commerce at Securities.Commerce@state.mn.us

With You Every Day

Wherever you are in Minnesota, the Department of Commerce is with you every day. Whether you’re filling up on gas, purchasing a home, working to reduce energy consumption or rebuilding after a disaster—we are with you, no matter what.

The Minnesota Department of Commerce oversees more than 20 regulated industries, ensuring that Minnesota businesses are strong and Minnesota consumers are protected. Our mission is to protect the public interest, advocate for Minnesota consumers, ensure a strong, competitive and fair marketplace, strengthen the state’s economic future and serve as a trusted public resource for consumers and businesses. Learn more at mn.gov/commerce

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Contact: Mo Schriner, Director of Communications
E: mo.schriner@state.mn.us
O: 651-363-1227