On Mar.14, SEC charged former Equifax CIO with insider trading.
- Jun Ying traded in advance of Sep. 2017 announcement of massive data breach.
- Breach exposed SSNs and personal information of about 148mn firm customers.
- Ying exercised all his stock options, and then sold shares, reaping nearly $1mn.
- By selling before public disclosure of breach, Ying avoided over $117k in losses.
Sanctions
- SEC charged Ying re violating antifraud provisions of the federal securities laws
- Seeks disgorgement of ill-gotten gains, plus interest, penalties, injunctive relief.
