Equifax investors push for changes to clawbacks, bonuses Equifax Inc. investors are pushing its board to adopt a stronger clawback policy and stop using adjusted financial results to calculate executive bonuses, months after a data breach exposed personal information on almost half of the U.S. population. New York City Comptroller Scott Stringer, who oversees $187 billion in pension fund assets, asked that Equifax amend its clawback policy to cover misconduct that causes significant financial and reputational harm.(Pensions & Investments)
Equifax Fine The credit-rating giant Equifax will be fined $659,300 by the British privacy regulator, the Information Commissioner, over its failure to protect the personal data of millions of people in the U.K. Around 15 million Britons' data was caught up in the massive breach of Equifax's systems last year. The regulator, which investigated the breach alongside the Financial Conduct Authority, said the Department of Homeland Security had warned Equifax about the vulnerability in its systems. The fine would have been higher under the new EU General Data Protection Regulation, which only came into effect this May. BBC
Former Equifax Executive Pleads Guilty to Insider Trading (TimesFreePress) ATLANTA (AP) — A former Equifax executive who sold shares for nearly $1 million a week and a half before the company announced a massive data breach pleaded guilty Thursday in Atlanta to a federal insider trading charge. Jun Ying, 43, exercised all his available stock options before making the sale and realized a gain of more than $480,000 on the sale, prosecutors said. That’s about $117,000 more than it would have been worth immediately after the price plummeted when the breach was disclosed.
Equifax Bill Remember Equifax's ginormous security breach a year and a half ago? The credit bureau does—in Equifax's earnings release Friday, it said the incident had cost it around $1.4 billion. Excluding legal fees. Oh, and there are still outstanding lawsuits. WABE