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Making Sense Of The SEC Data Breach

Law360, New York (October 3, 2017, 1:12 PM EDT) -- On Wednesday, Sept. 20, 2017, Jay Clayton, chairman of the U.S. Securities and Exchange Commission, made the surprising announcement that the SEC’s EDGAR database — the agency’s online document repository for periodic reports and registration statements filed by public companies and mutual funds — had been hacked:

In August 2017, the Commission learned that an incident previously detected in 2016 may have provided the basis for illicit gain through trading. Specifically, a software vulnerability in the test filing component of our EDGAR system, which was patched...
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