The Securities and Exchange Commission (SEC) has identified and charged nine parties for taking part in a scheme to hack the agency’s EDGAR filing system to extract nonpublic financial information to engage in insider trading.
This was not the SEC’s first run-in with some of the defendants. In 2015, the hacker, Ukrainian Oleksandr Ieremenko, and some of the traders involved in the EDGAR scheme were charged in connection with a similar plot to hack unpublished information held by newswire services for the same purpose.
Find out more details about the cybersecurity issues raises by the case.