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A comment on DOJ: Hackers broke into an SEC database and made millions from inside info. Parent comment

Re:DOJ: Hackers broke into an SEC database and made millions... by sandworm101 on Wednesday January 16, 2019 @10:54AM (#18921865)
Because they need time to correct errors and to prevent fraud. Say someone gets into the SEC and decides to release a fraudulent report. If that happens during off hours it can be rectified, but if it happens during the trading day the markets will react instantly and the damage is done.

Fixed release times also means that the companies submitting the filings cannot pick an advantageous time. Imagine if Musk was sitting atop a really horrible Tesla earnings report. If he could manipulate the exact time of its release he could leverage all sorts of things.

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Re:DOJ: Hackers broke into an SEC database and made millions... by vorticalbox on Wednesday January 16, 2019 @12:13PM (#18922624)
>but if it happens during the trading day the markets will react instantly and the damage is done.

Sounds like a good hacker movie.

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Re:DOJ: Hackers broke into an SEC database and made millions... by crumpets on Wednesday January 16, 2019 @02:56PM (#18924408)
>If he could manipulate the exact time of its release he could leverage all sorts of things.

There's already protection against him insider trading. Not sure what else "leverage all sorts of things" is.

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