The SEC asked the U.S. District Court for the District of Columbia to order a law firm to comply with a subpoena to provide information pertaining to an ongoing investigation following a cyber attack on the law firm.
In its Application for an Order to Show Cause, the SEC said that it's investigating potential illegal trading and disclosure failures after the firm experienced a cybersecurity attack that exposed certain clients' non-public information. The SEC requested that the firm provide the names of the clients whose files were compromised in order to help the SEC investigate any suspicious trades involving the clients' securities and assessing whether the trades were initiated based on non-public information. The SEC said that the information would also assist in determining if each client made all required disclosures to the public following the attack.
The SEC said that, to date, the firm has only provided the names of two clients, both of whom consented to providing information to the SEC.