SEC Launches Yahoo Investigation Over Improper Handling of Cyberattacks

by Lauren C. Williams – The agency is looking into whether the tech company waited too long to tell investors of the breaches. After unveiling a newer, smaller corporate identity following the sale of most of its holdings to Verizon, Yahoo is facing a federal probe for how it handled its massive data breaches, the Wall Street Journal reported. The Securities and Exchange Commission (SEC) is investigating Yahoo to determine whether the company kept investors in the dark regarding its two mega-breaches that exposed more than a billion consumers’ data in two major breaches since 2013. Yahoo previously mentioned it was cooperating with international, state, and federal agencies regarding the 2014 breach, including the Federal Trade Commission and SEC, the Journal reported. The investigation will likely focus on the 2014 hack, which wasn’t publicly disclosed for two years. Even in the face of mounting criticism, Yahoo hasn’t given any reason for...

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Finally! SEC Votes to Disclose Exorbitant CEO-Worker Pay Ratio

by Lauren McCauley – “We finally have an official yardstick for measuring CEO greed,” said Institute for Policy Studies analyst Sarah Anderson In a move supporters are cheering as a victory for workers—and filing under the “better late than never” category on the part of the government—the Securities and Exchange Commission on Wednesday voted to adopt new rules requiring a public company to disclose the pay ratio between its CEO and employees. Advocates say the disclosure rule, which is required under Section 953(b) of the 2010 Dodd-Frank Act, is commonsense and hope it will provide some relief to the gross economic inequality in the American workplace. “We finally have an official yardstick for measuring CEO greed,” said Sarah Anderson, director of the Global Economy Project at the Institute for Policy Studies (IPS). “This is a huge victory for ordinary Americans who are fed up with a CEO pay system that rewards...

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