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The SEC Hack: What Investors Need to Know

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Consumers’ angst over the security of sensitive financial data isn’t getting much help these days. Two weeks ago, one of the big three credit bureaus, Equifax, reported hackers had accessed the personal information of more than half of the adult population in the U.S. On Wednesday, it was the Securities and Exchange Commission announcing its systems had been breached — back in 2016.

The SEC, a government agency created during the Great Depression to oversee all financial markets, revealed in its statement that hackers last year exploited a software vulnerability in its Electronic Data Gathering, Analysis and Retrieval (Edgar) computer system. This gave the hackers access to nonpublic information about publicly traded companies.

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