US regulators looking at dealing with social media

May 01, 2013

A week after hackers broke into The Associated Press' Twitter feed and roiled financial markets, federal regulators say they need to find ways to deal with the impact of social media.

Members of the Commodity Futures Trading Commission didn't outline immediate action Tuesday. CFTC Commissioner Bart Chilton suggested they consider imposing tougher rules for investment firms and others that trade. Firms could be held accountable and sanctioned if their security systems were inadequate to prevent a breech.

At a meeting of an , Commissioner Scott O'Malia said regulators need to begin figuring out how to respond to social media.

The false tweet reporting explosions at the White House sent the stock market on a brief plunge. The CFTC, the FBI and the are investigating.

Explore further: Streaming release of 'Interview' test for industry

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Metric predicts stock market 'flash' crashes

Dec 03, 2010

The May 6, 2010, stock market crash briefly erased almost $1 trillion in value and plunged the Dow Jones Industrial Average into its biggest intraday fall ever. The market recovered most of its losses within the hour, but ...

US imposes new rules on high-speed traders

Jul 26, 2011

US regulators on Tuesday announced new rules aimed at shedding light on the secretive industry of computerized high-speed trading, which has been blamed for destabilizing financial markets.

Panel OKs market for movie bets; studios want ban

Apr 17, 2010

(AP) -- U.S. regulators on Friday approved the creation of a futures market for trading in forecast box-office receipts, but major Hollywood studios immediately trumpeted a bill that would ban it.

Hackers cause stir with 'Obama injured' AP tweet

Apr 23, 2013

Hackers spooked markets Tuesday after breaking into the Associated Press's Twitter account and falsely reporting President Barack Obama had been injured after two blasts at the White House.

Recommended for you

Streaming release of 'Interview' test for industry

Dec 25, 2014

Sony's "The Interview" has been a hacking target, a punchline and a political lightning rod. Now, with its release online at the same time it debuts in theaters, it has a new role: a test for a new kind of ...

Web outage hardly stirs Internet-free N. Korea: experts

Dec 24, 2014

North Korea's Internet went down this week after an apparent attack but most of its citizens will not have noticed the difference in a country that does its level best to seal off foreign influence, experts say.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.