The US Securities and Exchange Commission logo adorns an office door at the SEC headquarters in Washington, June 24, 2011. (Reuters pic)NEWARK: US authorities on Tuesday charged several individuals and companies in a scheme to trade on information in nonpublic corporate press releases by hacking into a US Securities and Exchange Commission database.
In a filing with the US District Court in Newark, New Jersey, the SEC said individuals in the United States, Russia and Ukraine reaped more than US$4.1 million in illegal gains by trading on nonpublic filings from its Edgar database, including approximately 157 corporate earnings announcements.
According to the …read more
Source: Free Malaysia Today
