Elite Pharmaceuticals Inc (ELTP)

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SEC Announces Enforcement Initiatives to Combat Cyber-Based Threats and Protect Retail Investors

FOR IMMEDIATE RELEASE
2017-176
Washington D.C., Sept. 25, 2017—
The Securities and Exchange Commission today announced two new initiatives that will build on its Enforcement Division’s ongoing efforts to address cyber-based threats and protect retail investors. The creation of a Cyber Unit that will focus on targeting cyber-related misconduct and the establishment of a retail strategy task force that will implement initiatives that directly affect retail investors reflect SEC Chairman Jay Clayton’s priorities in these important areas.

Cyber Unit

The Cyber Unit will focus the Enforcement Division’s substantial cyber-related expertise on targeting cyber-related misconduct, such as:

Market manipulation schemes involving false information spread through electronic and social media
Hacking to obtain material nonpublic information
Violations involving distributed ledger technology and initial coin offerings
Misconduct perpetrated using the dark web
Intrusions into retail brokerage accounts
Cyber-related threats to trading platforms and other critical market infrastructure
The unit, which has been in the planning stages for months, complements the Chairman’s initiatives to implement an internal cybersecurity risk profile and create a cybersecurity working group to coordinate information sharing, risk monitoring, and incident response efforts throughout the agency.

https://www.sec.gov/news/press-release/2017-176