US SEC chief says cyber crime risks are substantial, systemic – Reuters

One concern for the SEC relates to a rise in cases of information being stolen by hackers to gain some sort of market advantage, said Stephanie Avakian, co-director of the SEC’s enforcement division, who joined Clayton on the panel along with co-Director Steven Peikin.

Other areas of focus include ensuring financial firms take the appropriate steps to safeguard sensitive information; cyber-related disclosure failures; and the growing prevalence of “initial coin offerings (ICOs),” Avakian said.

An ICO is where a digital currency based on blockchain technology is sold publicly and the currency is often traded on secondary exchanges.

via US SEC chief says cyber crime risks are substantial, systemic – Reuters