06.12.19
A Watchdog Says Hedge-Fund Secrets Kept by the CFTC Are Vulnerable to Hacking
by: Benjamin Bain; Robert Schmidt
Confidential market information collected from hedge funds and brokers by the CFTC is vulnerable to hacking because of the agency's outdated computer systems, according to an internal watchdog. The commission needs to correct “numerous weaknesses” in the way it manages and stores data, the inspector general's office said in an audit report. The review also said the CFTC needs to rebuild or replace a key, but antiquated, database of confidential trading positions that it uses to police futures and options markets. The audit highlighted the agency's Integrated Surveillance System, which gathers information on positions taken by hedge funds and other big traders in the commodity markets.
Read the full article on Bloomberg