Earlier this year, the SEC released cybersecurity guidance addressing, among other things, the risk of insider trading in the event of a data breach. This risk comes in multiple forms, including the intruders trading on stolen information and insiders trading on the knowledge of the breach itself. The SEC demonstrated its willingness to address the latter situation in the recent insider trading case against Jun Ying, the former chief information officer of Equifax’s United States Information Systems business unit.
Continue Reading You Might Be an Inside Trader If…You Trade on Your Unconfirmed Suspicions of a Cybersecurity Event Prior to Its Public Revelation or Disclosure