Error generating security certificates

Are you seeing the following error despite being absolutely certain you generated security certificates correctly and the service is showing as fully started? 

Error generating security certificates. Please make sure that the security configurator has been run and that your security certificates have been properly configured. This issue may also occur if the Ektron Windows Service is not currently running.

If so check your event viewers Windows Logs > System/Security logs and see the below warning, see the resolution below. 

When asking for client authentication, this server sends a list of trusted certificate authorities to the client. The client uses this list to choose a client certificate that is trusted by the server. Currently, this server trusts so many certificate authorities that the list has grown too long. This list has thus been truncated. The administrator of this machine should review the certificate authorities trusted for client authentication and remove those that do not really need to be trusted.