Government loose lips x 2

Here are two from today’s paper.

Beyond High-Speed Trading – other access to information before the muggles. “Sensitive Market Data Leaked After Government Phone Call,” Wall Street Journal, April 11, 2014 A1 http://on.wsj.com/1gdtuQs

On December 3, the government hints in a phone call to the healthcare industry that “federal funding for private Medicare plans would likely fall more than expected.” This information was finally released to the public on January 9. Lucky you didn’t buy or sell stocks in those six weeks.

In March, staff at the Federal Energy Regulatory Commission gave a presentation on the vulnerability of the electric grid to attack. On Wednesday, April 9, FERC decided to try to classify this information and restrict its public disclosure. We the people don’t need to know, despite numerous unclassified discussions of the grid’s sensitivity over the last few years. This was either “irresponsibility” or freedom of the press. So, the agency releases the information, without attempting to classify it, and it’s the Wall Street Journal’s obligation not to report it?

Whose information was this, and who had a duty to protect it? What controls were in place and why did they fail?

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Filed under Board, Business Case, Compliance, Controls, Duty of Care, Governance, Inform market, Inform shareholders, Information, Internal controls, Management, Ownership, Protect, Protect assets, Protect information assets, Risk, Third parties

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