Warning, SEC Breach May Impact Trillions of Dollars
A breach discovered in a Key US Securities and Exchange Commission filings systems in Y 2016 can impact “trillions of dollars,” cybersecurity.
It is the same issue as Equifax (NYSE:EFX), as they are supposed to be the guardians of trusted information. Equifax is the Fort Knox for individuals’ information, and the SEC’s EDGAR is the Fort Knox for the public companies, they hold all the data, all the most sensitive information
The experts are warning that SEC’s serious software vulnerabilities could actually have been used to manipulate the markets in company stocks.
“This is insidious … you could alter data, change things. How could you ever get back to the point … where people can trust the information they have in there?”cybersecurity expert Morgan Wright warns.
SEC Chairman John Clayton disclosed the breach Wednesday.
Notably, former SEC Chairwoman, Mary Jo White, under the Hussein Obama Admin did not disclose it while she held the top SEC job. Yet another major failure in the long and growing list, by the Hussein Obama Admin’s to protect America’s businesses, investors and people at large.
“In certain cases, threat actors have managed to access or misuse our systems,” Chairman Clayton said “In August 2017, the commission learned that an incident previously detected in Y 2016 may have provided the basis for illicit gain through trading.
“Specifically, hackers exploited a software vulnerability in the SEC’s ‘EDGAR’ system, a vast archive of financial records for companies listed on the US stock exchange. Hackers who knew what to look for could potentially use that data to gain an advantage on the stock market.”
The SEC data breach was serious.
“You could use the information to make trades, acquisitions or adverse filings … It’s like being an outsider with insider information,” Mr. Wright said.
Thursday, the US major stock market indexes finished at: DJIA -53.36 at 22359.23, NAS Comp -33.35 at 6422.69, S&P 500 -7.64 at 2500.60
Volume: Trade on the NYSE came in moderate to light at: 726-M/shares exchanging hands.
- NAS Comp +19.3% YTD
- S&P 500 +11.7% YTD
- DJIA +13.1% YTD
- Russell 2000 +6.4% YTD
|HeffX-LTN Analysis for DIA:||Overall||Short||Intermediate||Long|
|Bullish (0.29)||Neutral (0.21)||Neutral (0.21)||Bullish (0.46)|
|HeffX-LTN Analysis for SPY:||Overall||Short||Intermediate||Long|
|Bullish (0.40)||Very Bullish (0.54)||Bullish (0.33)||Bullish (0.33)|
|HeffX-LTN Analysis for QQQ:||Overall||Short||Intermediate||Long|
|Bullish (0.40)||Bullish (0.45)||Neutral (0.23)||Very Bullish (0.53)|
|HeffX-LTN Analysis for VXX:||Overall||Short||Intermediate||Long|
|Bearish (-0.40)||Neutral (-0.17)||Bearish (-0.35)||Very Bearish (-0.67)|