Former Equifax CIO Charged With Insider Trading (bloomberg.com)

OffTheLip writes: Jun Ying, a former CIO with Equifax has been charged with insider trading by the US Department of Justice. From the linked article:

Wednesday's announcement marks the first criminal charge brought in one of the largest data breaches in history. Ying, the former chief information officer for Equifax's U.S. information-solutions business, used confidential information entrusted to him by the company to determine it had been hacked, according to a separate complaint filed by the Securities and Exchange Commission.

ZDNet adds: According to a Justice Department statement, Ying sent a text message to a colleague two weeks before Equifax revealed the hack, in which he said the breach "sounds bad." Three days later, Ying searched the web to research the effect of Experian's 2015 own breach on its stock price. Later that day, Ying excised all his available stock options.

Comments

Re:Forfeiture of assets?

[slew]

So all those stock options are going to be seized and used to compensate everyone who suffered as a result of the breach right?

Maybe?

Although it is traditional that all the money the SEC collects simply goes to the US treasury, it is also possible for the money to be used to re-imburse other investors (under the Fair Funds for Investors provision of the Sarbanes-Oxley Act).

Of course this provision has rarely been used and is of no benefit to those that suffered from the breach (it only applies to investors).

I wish they would bring back public stoning.

So what other parts of Sharia law are you in favor of?