On the heels of the massive Equifax data breach revelation, the head of the SEC has acknowledged a hack of the commission's EDGAR electronic filing system and is urging advisors and other regulated firms to redouble their efforts to mitigate cyber risks.
In a somewhat unusually long personal statement, SEC Chairman Jay Clayton calls on firms to reassess their capacity to prevent and respond to data breaches, while offering new details on the agency's own vulnerabilities and appealing for transparency when an incident does occur.
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