US SEC probing clients of SolarWinds over cyber-breach: Report

SEC is concerned some listed firms may not have disclosed the cyber-hacks in December, in breach of law, Reuters said.

The US Securities and Exchange Commission (SEC) has opened a probe into last year’s SolarWinds cyber-breach, focusing on whether some companies failed to disclose that they had been affected by the unprecedented hack, Reuters reported citing two persons familiar with the investigation. The SEC sent investigative letters late last week to a number of public issuers and investment firms seeking voluntary information on whether they had been victims of the hack and failed to disclose it, said the persons on Monday, speaking under the condition of anonymity to discuss confidential investigations. The agency is also seeking information on whether public companies that had been victims had experienced a lapse of internal controls, and related information on insider trading.