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 breach involved Securities and Exchange Commission’s EDGAR filing system, which houses market-moving information with millions of filings ranging from quarterly earnings to statements on acquisitions.
The SEC said on Wednesday evening it discovered last month that cyber criminals may have used a hack detected in 2016 to make illicit trades.
No doubt such ill-gotten information was fed to some “flash boys” at some point…