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Mike Crapo

US Senators grill SEC chair on disclosure of data breach

U.S. senators from both parties on Tuesday grilled the chairman of the Securities and Exchange Commission — the agency responsible for policing Wall Street — on its handling of a 2016 data breach that was disclosed only last week.

The hack breached the SEC's system for handling corporate filings intended for investors, known as EDGAR. That has raised concerns that the hackers may have gained advance looks at filings and engaged in insider trading.

The SEC's disclosure also followed a much larger breach at credit reporting firm Equifax that exposed sensitive personal information belonging to 143 million Americans. Lawmakers also blasted Equifax executives for their delay in...