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SEC reveals it was hacked, information may have been used for illegal stock trades
Source: Washington Post
SEC reveals it was hacked, information may have been used for illegal stock trades
By Renae Merle September 20 at 11:18 PM
The Securities and Exchange Commission, the country’s top Wall Street regulator, announced Wednesday that hackers breached its system for storing documents filed by publicly traded companies last year, potentially accessing data that allowed the intruders to make an illegal profit.
The agency detected the breach last year, but didn’t learn until last month that it could have been used for improper trading. The incident was briefly mentioned in an unusual eight-page statement on cybersecurity released by SEC Chairman Jay Clayton late Wednesday. The statement didn’t explain the delay in the announcement, the exact date the system was breached and whether information about any specific company was targeted.
“Notwithstanding our efforts to protect our systems and manage cybersecurity risk, in certain cases cyber threat actors have managed to access or misuse our systems,” Clayton said in the statement.
The system that was breached, known as EDGAR, is a popular way for investors to access the detailed financial reports companies that sell stock to the public must periodically release. It had a “software vulnerability” that was “exploited and resulted in access to nonpublic information,” Clayton said in the statement.
-snip-
By Renae Merle September 20 at 11:18 PM
The Securities and Exchange Commission, the country’s top Wall Street regulator, announced Wednesday that hackers breached its system for storing documents filed by publicly traded companies last year, potentially accessing data that allowed the intruders to make an illegal profit.
The agency detected the breach last year, but didn’t learn until last month that it could have been used for improper trading. The incident was briefly mentioned in an unusual eight-page statement on cybersecurity released by SEC Chairman Jay Clayton late Wednesday. The statement didn’t explain the delay in the announcement, the exact date the system was breached and whether information about any specific company was targeted.
“Notwithstanding our efforts to protect our systems and manage cybersecurity risk, in certain cases cyber threat actors have managed to access or misuse our systems,” Clayton said in the statement.
The system that was breached, known as EDGAR, is a popular way for investors to access the detailed financial reports companies that sell stock to the public must periodically release. It had a “software vulnerability” that was “exploited and resulted in access to nonpublic information,” Clayton said in the statement.
-snip-
Read more: https://www.washingtonpost.com/news/business/wp/2017/09/20/sec-reveals-it-was-hacked-information-may-have-been-used-for-illegal-stock-trades/
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