From: Wealth Management
“How can you expect companies to do the right thing when your agency has not?” U.S. Sen. Sherrod Brown asked.
But much of the testimony was dedicated to cybersecurity and Clayton’s Sept. 20 statement that the agency’s EDGAR system was subject to a breach in 2016—perhaps in anticipation of the committee’s interest in the subject, which monopolized much of the question-and-answer session.
The reveal by the SEC came on the heels of one of the worst cybersecurity breaches in U.S. history, when Equifax announced earlier in the month that hackers exploited an outdated system and were able to obtain names, Social Security numbers, birth dates, addresses and other information about 143 million Americans.
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