securities
SEC: Hacker Manipulated Stock Prices
U.S. regulators are moving to freeze the assets and trading accounts of a Russian accused of hacking into personal online portfolios and manipulating the price of dozens of stocks listed on the Nasdaq Stock Market and New York Stock Exchange. The Securities and Exchange Commission is asking a federal judge to freeze all movement of assets of Broco Investments, believed to be a one-trader operation based in St.
Continue reading »Intel victim of cyberattacks at the same time as Google
Intel was also a victim of a cyberattack at the same time as the high-profile attack on Google, adding it to the list of companies allegedly targeted by Chinese hackers. The company revealed the information Tuesday in its annual filing with the Securities and Exchange Commission, noting that the attack could harm Intel’s business operations if any intellectual property was stolen. Intel didn’t reveal much more in its filing except to say that a “sophisticated incident” occurred in January, “around the same time as the recently publicized security incident reported by Google.” The company said it’s investigating the incident, but warned investors that it may not be fully aware yet of the magnitude of what happened.
Continue reading »Bill could kill ISP safe harbor in cases of financial fraud
In the wake of the collapse of many a 401k and a Ponzi scheme or three, it’s no surprise that a bill called the Investor Protection Act of 2009 has attracted significant support in Congress. In 60 sections over 113 pages, the Act clarifies existing legislation and provides new oversight powers to the Securities Exchange Commission. But, buried on page 92, there’s language that would remove the safe harbor protections that keep ISPs from being liable for information transmitted over their networks, at least when that information involves a specific form of financial fraud.
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