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SEC Chief Says He Just Learned of Agency Hack

Sep 27, 2017
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Securities and Exchange Commission Chairman Jay Clayton told Congress that he was informed last month that the agency’s system for storing information filed by publicly traded companies might have been breached in 2016. Clayton, who was sworn into office in May, told the Senate Banking Committee that he immediately commenced an internal review.

That review found that the intrusion into the EDGAR system provided access to nonpublic information and, possibly, a basis for illicit gains through trading, the SEC chief said. Clayton, who disclosed the breach last week in the middle of a five-page statement on the SEC’s cybersecurity approach, said he has authorized the immediate hiring of additional cybersecurity staff.

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