Daily Archives: September 21, 2017, 7:59 am

Justice Department Tells Buchanan Bernie Madoff Victims About to be Compensated | Congressman Vern Buchanan

Responding to inquiries from Congressman Vern Buchanan, the U.S. Justice Department said it will begin compensating the victims of scam artist Bernie Madoff within the next few months. Buchanan, who complained about the slow compensation from a fund created five years ago, said he received a letter this week from Assistant Attorney General Stephen E. Boyd stating the DOJ is “poised to issue…

Read More

Hack Will Lead to Little, if Any, Punishment for Equifax – The New York Times

The hacking into Equifax’s trove of consumer and financial data that exposed the sensitive personal information of as many as 143 million Americans leads naturally to the question of the legal consequences the company and its executives might face. The answer, for those who remember the government’s response to the financial crisis, will be as familiar as it is unwelcome:…

Read More

Preet Bharara, Ousted Federal Prosecutor, Will Join CNN – The New York Times

Preet Bharara, the former United States attorney in Manhattan, has been far from silent since being ousted from his job in March. He is writing a book, regularly muses on politics and legal matters to his 438,000 followers on Twitter, and just started a podcast. (First episode: “That Time President Trump Fired Me.”) Now the media-savvy former federal prosecutor is…

Read More

Hackers May Have Profited From SEC Corporate Filing System Attack – Bloomberg

The vulnerability of governments and businesses to cyberattacks was exposed again Wednesday when a top U.S. financial regulator said hackers had breached its electronic database of market-moving corporate announcements, and may have profited from the information they stole. The hack of an aspect of the U.S. Securities and Exchange Commission’s Edgar filing system occurred in 2016, the regulator said in…

Read More

SEC Chairman Clayton Issues Statement on Cybersecurity

… In August 2017, the Commission learned that an incident previously detected in 2016 may have provided the basis for illicit gain through trading.  Specifically, a software vulnerability in the test filing component of the Commission’s EDGAR system, which was patched promptly after discovery, was exploited and resulted in access to nonpublic information. It is believed the intrusion did not…

Read More