US Securities Regulator Admits Filings System ‘Hacked’

US Securities Regulator Admits Filings System ‘Hacked’

The US Securities and Exchange Commission (SEC) says a cyber breach, aka Hack, of a filing system it uses may have provided the basis for some illegal trading in Y 2016.

In a statement posted Wednesday evening on the SEC’s website, the new SEC Chairman Jay Clayton says a review of the agency’s cybersecurity risk profile under the Obama Admin’s Chairwoman, Mary Jo White, determined that the previously detected “incident” was caused by “a software vulnerability” in its EDGAR filing system.

The SEC Chairman says this breach did not result in exposing personally identifiable information.

The SEC files financial market disclosure documents through its EDGAR system, which processes over 1.7-M electronic filings in any given year.

Chairman Clayton’s statement also mentioned that a Y 2014 internal review was unable to locate some agency laptops that may have contained nonpublic information.

Ms. White, the SEC’s former boss, did not disclose any of this information while in office or after her resignation.

Stay tuned.

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