A top Senate Democrat on Thursday said the private and public sector needs to boost its cybersecurity after the Securities and Exchange Commission (SEC) revealed that hackers might have profited off of insider information stolen from the agency's disclosure filing system.
SEC chairman Jay Clayton revealed the hack of its Edgar database in a statement on September 20. Federal prosecutors alleged that 32 traders and hackers reaped more than $100 million in illegal proceeds in a scheme so brazen that the traders would send shopping lists of corporate news releases for sneak-peeking purposes to the hackers in order to place trades. The SEC provided little information, so it's still unknown which companies may have been affected or if hackers made a profit.
Clayton said that the SEC has experienced cybersecurity vulnerabilities before, including an incident in 2014 when the inspector general found that certain SEC laptops that may have contained nonpublic information could not be located, and found instances in which SEC employees transmitted nonpublic information through nonsecure personal email accounts.
Clayton said that the intrusion "may have provided the basis for illicit gain through trading".
Hackers may have used information stolen from the United States financial regulator to make "illicit gain" through insider trading, the body's chairman admitted.
Clayton did not delve into details about what information was illicitly obtained, but said the investigation is ongoing and the SEC is "coordinating with appropriate authorities".
Such attacks undermine confidence in financial markets and can create risks for investors and consumers, the SEC said.
It says that the system has been patched to remove this software vulnerability. The SEC did not specify companies whose information may have been exposed, adding the intrusion did not expose any personally identifiable information or otherwise pose "systemic" risk.
The SEC files financial market disclosure documents through its EDGAR system, which processes more than 1.7 million electronic filings in any given year. "We must be vigilant". It's meant to ensure that all parties have access to the same information at the same time to minimize the ability of some to take advantage of the release of advance financial information.
Although the problem was nearly immediately patched in 2016, it's noteworthy that the regulator only became aware that the glitch could have provided the basis for "illicit gains through trading" last month.
The company says the proceedings are a way for Toys "R" Us to work with its creditors on restructuring the debt beleaguering it. Toys "R" Us didn't announce plans to close stores, and said its locations across the globe would continue normal operations.
The redesigned workout app is a much better experience than before and lets you quickly get onto the regular workout of the day. Year-to-date, AAPL has gained 36.27%, versus a 13.42% rise in the benchmark S&P 500 index during the same period.
Tips casino players online You need to understand the difference between traditional casinos and online casinos. Still, the main goal, anyway, is to get a prize and the opportunity to become rich without putting an effort.
He said: "It looked worse, it looked like it was going to be a few months but touchwood it's only going to be a couple of weeks". It's a good opportunity for those players to impress. "It's a big game for us and that is all we think about", he said .
While Luke will probably have a key role to play in the new movies, it’s certain the new actors will dominate the storyline. He felt he needed to know what all those years have done to Luke even if the material doesn’t get told in the actual movie.
Moreover, for the first time, Ivy and David even did not see each other, due to the fact that their communication was online. It should be noticed that these two people began relations just as friends, as they lived in different countries.
Crude oil traders showed little response to late Tuesday's American Petroleum Institute's weekly inventories report. But analysts doubt that such an extension would have much of an impact on the overall oil market.
In addition, from the year 2018 GRC’s cryptocurrency rate is expected to grow due to its social usefulness and relevance. In order to do this, you need to have a considerable amount of money, a special financial education and a special license.
People react as a real quake rattles Mexico City on September 19, 2017 as an natural disaster drill was being held in the capital. Local media has reported that thousands of people were out on the streets after being evacuated as a precautionary measure.
Spectacular dancers will complement the spectacular dance of any composition, leaving an unforgettable impression in your memory. A special chic to the club is given by colorful and incendiary performances, over which a professional choreographer works.