Cyber risks reach a crescendo
The SEC this week disclosed that a cyber intrusion through a test portal of the EDGAR system might have led to illegal profits from trading on data drawn from a regulatory database. In a statement, SEC Chair Jay Clayton said
“Cybersecurity is critical to the operations of our markets and the risks are significant and, in many cases, systemic. We must be vigilant. We also must recognise — in both the public and private sectors, including the SEC — that there will be intrusions, and that a key component of cyber risk management is resilience and recovery.” Read more.
