The SEC was Hacked

22 September, 2017, 00:53 | Author: Sherri Guerrero
  • Securities and Exchange Commission Chairman nominee Jay Clayton testifies on Capitol Hill in Washington at his confirmation hearing before the Senate Banking Committee. The SEC says a cyber breach of a filin

The US Securities and Exchange Commission was hacked previous year, and information gleaned from the intrusion "may have provided the basis for illicit gain through trading", the agency revealed this week.

The top regulator for USA financial markets says hackers may have made money from breaking into its corporate filing system and gaining access to inside information about companies.

No report yet on the size of the gains, which may have been major. But the 2016 breach was the result of a deliberate attack aimed at accessing the EDGAR filing system.

The SEC hosts large volumes of sensitive and confidential information that could be used for insider-trading or manipulating USA equity markets. The security hole "was patched promptly after discovery", Clayton said. A year later, the event has once again resurfaced with the SEC's admission that the attack "may have provided the basis for illicit gain through trading".

The statement didn't detail the nature of the information that was taken or how it was used.

Clayton said that intrusions were a reality in the current environment. It had a "software vulnerability" that was "exploited and resulted in access to nonpublic information", Clayton said in the statement.

The SEC has experienced other security risks in recent years.

Kenya's Supreme Court criticises IEBC electoral commission
Maraga said the opposition had failed to show evidence Kenyatta had campaigned using state resources or undue influence. The official results were based on the electronic tally before the paper results were fully collated, the judges said.

Gov. Doug Ducey says he supports latest health care repeal law
The GOP needs at least 50 senators to vote for the bill, which would then have to be considered by the House of Representatives. CBO said Monday it "is aiming to provide a preliminary assessment of the Graham-Cassidy bill by early next week".

United States denies reports of change in stance on Paris climate accord
"There has been no change in the U.S.'s position on the Paris agreement ", said deputy press secretary Lindsay Walters. Opponents say withdrawing from the accord is an abdication of United States leadership on a key global challenge.

"The chairman obviously recognises the irony of the SEC potentially serving as the unwitting tipper in an insider trading scheme", said John Reed Stark, president of a cyber consulting firm and a former SEC staff member.

However, hackers may have gotten their hands on nonpublic information.

Clayton's public statement said the SEC recognizes the importance of cybersecurity and uses an organizationwide program for threat detection, protection and prevention. The SEC provided little information, so it's still unknown which companies may have been affected or if hackers made a profit.

Clayton concluded: "I recognise that even the most diligent cybersecurity efforts will not address all cyber risks that enterprises face".

The breach was first detected in 2016, but the SEC didn't realize until last month that the hackers may have been able to exploit the hack for profit, according to statement on cybersecurity policy, which was released at about 11 p.m. ET.

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.


  • Some 100 countries expected to sign treaty banning nuclear weapons

    Some 100 countries expected to sign treaty banning nuclear weapons

    On Tuesday, President Donald Trump warned that the USA would "totally destroy North Korea" if forced to defend itself or its allies.
    Russian Federation  bombed location in Syria where USA  troops were present

    Russian Federation bombed location in Syria where USA troops were present

    They have liberated some 60 square kilometers [some 23 sq. miles] on the eastern bank but have encountered obstacles, he said. That line runs from the neighbouring province of Raqa southeast along the Euphrates River to Deir Ezzor.
    Arrest made in 25-year-old murder of MA  woman

    Arrest made in 25-year-old murder of MA woman

    A MA man was taken into custody in CT on Monday in connection with a decades-old slaying of a middle school educator. Schara was located in CT the next day after a suicide attempt, and arrested when his DNA was found to be a match.
  • Lions improve to 2-0 with 24-10 road victory over Giants

    Got down there close on the 1-yard line (in the third quarter) and get a penalty and then get a delay of game at the end. After review, the ball was moved back, the gain was reduced to two yards, and the Giants turned the ball over on downs.
    Tillerson may close Cuban embassy over attacks

    Tillerson may close Cuban embassy over attacks

    In Washington, lawmakers in Congress have been raising alarm over the incidents, with some calling for the embassy to be closed. Cuba has denied any involvement or responsibility but stressed that it's eager to help the U.S. resolve the matter.
    What Trump has said about the United Nations

    What Trump has said about the United Nations

    Now, his White House wants to work with its members on North Korea . Candidate Trump railed against the U.N. McMaster said on ABC's "This Week".
  • Zeman meets South Korean President in NY

    Zeman meets South Korean President in NY

    South Korea says the USA military flew powerful bombers and stealth jets over the Korean Peninsula in joint drills with South Korean warplanes.
    Toshiba to sell chip unit to Japan-US-South Korea group

    Toshiba to sell chip unit to Japan-US-South Korea group

    The special goal entity making the acquisition will be called Pangea and receive about 600 billion yen in loans, the person said. Turning its back on a proposed deal led by Western Digital , Toshiba is set to make around $22 billion from the sale.
    Kentucky 23 SC  13 4th Quarter

    Kentucky 23 SC 13 4th Quarter

    SC leads the all-time series against Kentucky 17-10-1. 142 Consecutive games have been played by SC since it was last shut out. SC has lost four straight to Kentucky and will face Texas A&M and Tennessee in road contests in the next four weeks.
  • Erdogan demands Iraqi Kurds call off referendum

    Erdogan demands Iraqi Kurds call off referendum

    Turkey has brought forward to Friday a cabinet meeting and a session of its national security council to consider possible action. Navasardyan reminded that great powers voice strong objections to the referendum planned on September 25.
    Reliance Jio prevails over Airtel, Idea as Trai cuts IUC

    Reliance Jio prevails over Airtel, Idea as Trai cuts IUC

    Reliance Jio had said in a presentation to Trai recently that telecom operators gained to the tune of Rs 1 lakh crore from IUC. Jio also stated that it is of the opinion that waiving the charge will benefit consumers.
    Shearer: Liverpool no different under Klopp compared to Rodgers

    Shearer: Liverpool no different under Klopp compared to Rodgers

    Klopp has been easing the 24-year-old into action as he adjusts to the demands of his system, and the trip to the King Power Stadium provides him with a vital opportunity.


Trump, Pence to campaign for odd before GOP runoff
"You know that we were torn apart in the Civil War - brother against brother, North against South, party against party". Moore's communications director Katie Frost told the Hill he wasn't being racist, but merely referring to the gospel.

Trump Addresses United Nations
While he is being responsible we're going to be responsible", Haley said during an interview with ABC's Good Morning America . The United States is one out of 193 countries in the United Nations, and yet we pay 22 percent of the entire budget and more.

"America's Got Talent" - One last shot
Her performance brought the audience to tears and got a standing ovation from both the crowd and judges . That was a ideal tribute to your dad.

India, China will reshape world, says Rahul Gandhi
Gandhi said he likes Prime Minister Narendra Modi's idea of "Make in India" but the focus should be on small and medium companies. When asked what he thought was the central challenge facing the country, Gandhi said it was the lack of jobs.

One shot, one arrested at Mattoon High School Wednesday
Police say after the student was wounded, a teacher subdued the alleged shooter. School officials say as a precaution all buildings are on a soft lockdown.

Apple admits to Apple Watch LTE problems just before it ships
Apart from connection issues, some reviewers were disappointed with the drain on the watch's battery while making calls. It became apparent after my first full day using the Apple Watch Series 3 with LTE that something wasn't right.

Trump says democracy must be restored in Venezuela soon
Several prominent opposition mayors have been removed or ordered arrested by the Supreme Court. "We want it to happen very soon". General Assembly, Trump said the Venezuelan people were starving and their country was collapsing.

Wife of ousted PM Sharif wins Pakistan by-election
He's likely to use his interactions with American officials to halt a rapid deterioration in US-Pakistan relations, reports said. He will outline Pakistan's positions on key worldwide political, social and development issues of vital concern to the country.

Revealed!! AMM factor compels India to take stern stance on Rohingya issue
The latest violence erupted after Rohingya militant raids on 30 police posts in Rakhine triggered a military crackdown. The affidavit was filed in response to a petition against the deportation of Rohingya Muslims from India.

Epic Accidentally Let PS4 And Xbox One Players Battle Together On Fortnite
The possibility of cross-play continues to intrigue gamers who're often segregated by their choice of Microsoft or Sony consoles. "We had a configuration issue and it has now been corrected", a representative told the website via email.