Editor’s Note: The complaint filed against the SEC is attached here. It is important to recognize that a complaint is an unproven allegation.
FISMA Focus notes that they expressed concerns about the SEC’s transparency on cybersecurity prior to the filing of the complaint. We will be closely following this story, including the SEC’s response. The following two paragraphs from the complaint are focus of the cybersecurity-related aspects of Mr. Weber’s assertions.
5. Mr. Weber also disclosed to the Commissioners and Congress the existence of severe breaches of SEC and national stock market computer security. These breaches may have compromised extremely sensitive information about the computer infrastructure system of every major stock exchange, including the New York Stock Exchange and the NASDAQ Stock Exchange. These breaches were caused by either the intentional or grossly negligent mishandling of sensitive computer equipment and data by SEC employees and management officials, all while the SEC failed to warn each of the affected exchanges of the breach.
6. To this day, the SEC has still not adequately and fully disclosed and warned the stock exchanges of the breadth, severity, and nature of the information subject to compromise by the misconduct of SEC employees and management. Further, no audit trail will ever be able to identify the true nature and severity of the breach, because the employees and officers at issue, themselves highly skilled in hacking, IT security, and IT security incident response, intentionally disabled and prevented the ability of the SEC to learn this information, for unknown reasons.
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