The Straits Times
Published on Dec 05, 2012

Iowa's Senator Grassley urges hearing on SEC security lapse


WASHINGTON (Reuters) - United States Senator Charles Grassley on Tuesday urged the Senate Banking Committee to hold a hearing to examine the US Securities and Exchange Commission's failure to encrypt some computers containing highly sensitive stock exchange data.

Grassley, an Iowa Republican, wrote in a letter to Senate Banking Chairman Tim Johnson that the panel has "a strong role to play and responsibility in ensuring the safety and security of our exchange platforms," and he urged Johnson to hold hearings on the issue.

Grassley has built a reputation as an SEC watchdog but he is not on the banking panel.

Staff for Republican Senator Richard Shelby (Alabama) said last week that the issue merited an oversight hearing.