Securities Commission

Hackers hacked SEC database (Securities commissions) and earned millions from insider trading

Как пишет издание CNBC, US federal prosecutors indicted for unauthorized entry into the US Securities and Exchange Commission database (SEC) several individuals. According to authorities, a group of hackers from the USA, Russia and Ukraine managed to hack the database with corporate reports. Attackers had access to private information from May to, least, October 2016 of the year. Using this data, they were able to earn more than $4 million.

Why Russia is not punished for market manipulation

Unlike the USA in Russia 75% part, related to the use of inside information, do not end in courts and multimillion-dollar fines, but by prescriptions Another case of manipulation of financial instruments at the Moscow Exchange trades was revealed by the Bank of Russia or at least loudly announced about it. This time, under the gun of the Central Bank investigation was the company "Finam". On Tuesday, 27 august, regulator announced that, what in 2012-2016 years of structure, associated with "Finam", made many transactions on the market with UC Rusal shares, Polyus Gold and others. Deals, according to the Central Bank, made no economic sense, which means, were committed by prior agreement with the aim of market manipulation. As expected, Finam denies everything. Introduced into the law on combating the illegal use of insider information and with its loud statements, the Central Bank is trying to show, that is determined to combat market manipulation. But in 75% cases related to this case end only with an order to prevent similar violations in the future. Why?

The implementation of the audit system for transactions on American exchanges was postponed due to fear of hacker attacks

Implementation of a transaction audit system, designed to help authorities track suspicious transactions, вновь откладывается, writes Reuters. U.S. Congress doubts, that the system is sufficiently protected from hacker attacks. IN 2010 year there was a Flash Crash - an instant fall in the value of shares in the US stock market, in total, the market lost about a trillion dollars for a little more 30 minutes. To avoid repeating this situation, a transaction audit system was developed (CAT). It is designed to facilitate and speed up the search for dishonest players..

SEC: US Securities and Exchange Commission voted to lift ban on hedge fund advertising

Even before the advent of hedge funds, there was already a rule, which forbade them - as private, to unregistered investors - advertise their services. US Securities and Exchange Commission lifts ban, established during the Great Depression – one year later, established by the JOBS act. Four of the Commissioners, including its Chairman Mary Joe White, voted for the new rule, one against. “Given the well-defined content of the act and the deadline set by it, which took place last July, the commission should not delay making a decision ", said White before the vote. «Это, certainly, doesn't mean, that the commission should not provide investors with additional protection of their interests, if it becomes necessary ". It was the lack of such guarantees that caused discontent among human rights organizations and commission member Louis Aguilar, who voted against the innovation. In his opinion, without general principles of protecting the interests of investors, lifting the ban on public appeals to buy services would be a blessing for scammers. “Based on our experience, it will bring many …

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