SEC says its corporate filing system was hacked

“Federal securities regulators said late Wednesday that hackers gained access to the government’s electronic system for corporate filings and may have made illicit gains by trading on the information.

The Securities and Exchange Commission discovered the intrusion, which occurred last year, only in August. The agency said in a statement that a software vulnerability in its so-called EDGAR filing system, which publicly listed companies use to make regulatory disclosures, was “exploited” for access to nonpublic information.

“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,” SEC Chairman Jay Clayton said in a statement disclosing the hack.”

Read more details here.

Author: Alain Sherter