MarketWatch First Take: If the SEC were a company, its hack disclosure would have to be reported to the SEC

Jay Clayton, chairman of the U.S. Securities and Exchange Commission

For good reason, MarketWatch gives companies that try to obscure their corporate disclosures a hard time.

Made-up metrics, inconsistent disclosures, mixed-up tables — it’s the sort of thing that makes a mockery of public markets and frequently earns the offending companies some unfriendly correspondence from the Securities and Exchange Commission.

Read:Earnings season is still a headache and shareholders shouldn’t stand for it

About that.

So it turns out the SEC may have a bit of a disclosure problem of its own. The agency revealed Wednesday night that its hackers penetrated its electronic system for storing public-company filings and may have traded illegally on the information.

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