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Hack of Wall Street regulator rattles investors, lawmakers

Tags: breach hack cyber

WASHINGTON (Reuters) - Wall Street’s top regulator came under fire on Thursday about its Cyber security and disclosure practices after admitting hackers had breached its database of corporate announcements in 2016 and may have used it for insider trading.

The SEC disclosure came two weeks after credit-reporting company Equifax Inc ( EFX.N ) said a breach has exposed sensitive personal of data up to 143 million U.S. customers, and follows last year’s cyber attack on SWIFT, the global bank messaging system.

U.S. President Donald Trump in May signed an executive order requiring agencies to use a specific framework to assess and manage cyber risk, and to prepare a report within 90 days about how they implement it.

Banking Committee member Senator Mark Warner said in a statement he intends to ask about SEC thresholds for requiring companies to disclose breaches, and flagged the connection between the SEC’s disclosure and its market oversight role.

Additional reporting by Jonathan Spicer in New York, Bryan Sims in Houston; Writing by Lisa Lambert and Meredith Mazzilli; Editing by Carmel Crimmins and Nick Zieminski

READ MORE (Reuters)

  • What We Know and Don't Know About the SEC HackU.S. News & World Report
  • SEC Hacked: Information From Breach May Have Been Used In TradingInternational Business Times
  • SEC admits data breach, suggests illicit trading was keyZDNet
  • SEC: Hack used to make illegal gainsBoston Herald
  • SEC says it was hacked, possibly resulting in illegal
  • SEC Reveals Data Breach Caused By Software Application VulnerabilityCRN
  • SEC reveals 2016 hack that breached its filing systemYahoo Finance
  • SEC under fire for being hacked despite warnings on securityABC News
  • SEC discloses hackers accessed EDGAR system and may have traded on the informationABA Journal

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Hack of Wall Street regulator rattles investors, lawmakers


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