The SEC Disclosed On Wednesday That EDGAR

The SEC disclosed on Wednesday that EDGAR, its corporate filing system, was hacked in 2016 and information was potentially used for illegal stock trades.

EDGAR is where Corporate America goes to file statements on their businesses. Brad Bondi, an attorney with Cahill Gordon and Reindel and former council at the SEC, called it "the Fort Knox" of the SEC.

It's where the important stuff is stored: quarterly earnings reports, market-moving news, IPOs, mergers and acquisitions, it all goes into the EDGAR system, and is often filed before the news is made public.

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