Bloomberg Law
Sept. 22, 2017, 2:31 PM UTC

SEC Hack Threatens a Bedrock of U.S. Capitalism: Transparency

Bloomberg Media

By Benjamin Bain, Annie Massa, and Robert Schmidt, Bloomberg News

The U.S. Securities and Exchange Commission hails its database of company filings as an innovation that’s dramatically boosted corporate transparency. But a hack that led to the theft of market-moving secrets is the latest sign that technology also brings dangers the SEC is struggling to combat.

The breach adds to a growing list of SEC embarrassments over Edgar, a massive online system where companies are required to disclose everything from stock sales by top executives to regulatory investigations. Past setbacks include fraudsters posting fake takeover announcements and allegations that some ...

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