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U.S. SEC says someone may have profited from EDGAR database glitch
September 21, 2017 / 12:27 AM / a month ago

U.S. SEC says someone may have profited from EDGAR database glitch

WASHINGTON, Sept 20 (Reuters) - The U.S. Securities and Exchange Commission said on Wednesday that someone gained access to non-public information by exploiting a software glitch in an SEC database and may have used the information to illegally make money in financial trades.

In a statement, the SEC said the intrusion into EDGAR, the agency’s online corporate financial disclosure system, happened in 2016 and was previously known. The agency said it learned last month of the possible illicit trading gain.

The software vulnerability was patched “promptly after discovery,” the SEC said.

“It is believed the intrusion did not result in unauthorized access to personally identifiable information, jeopardize the operations of the Commission, or result in systemic risk,” the SEC said.

The agency said it was investigating the incident. (Reporting by Eric Beech; Editing by Peter Cooney)

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