Cyberattack disrupts EquiLend

Cyberattack disrupts EquiLend CNN reports that U.S. securities lending platform EquiLend had some of its systems disrupted following a cyberattack. Investigation into the incident alongside third-party cybersecurity experts is already underway but EquiLend which is being managed by a consortium that includes Bank of America, BlackRock, and other Wall Street firms noted that several days could be needed to achieve complete recovery of impacted systems. "We took immediate steps to secure our systems and are working methodically to restore the involved services as quickly as possible," said EquiLend spokesperson Christopher Gohlke. Meanwhile, such an incident, which is being monitored by the U.S. Treasury Department, was noted by the Financial Services-ISAC to have minimal effect on the financial market. "The sector is monitoring for any ongoing issues and coordinating through our established incident response processes and resilience mechanisms to ensure firms have the information they need to mitigate potential impacts," said an FS-ISAC spokesperson.