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Equifax executive charged with insider trading

Equifax logo
The Equifax logo in an illustration. Photo: Jaap Arriens/NurPhoto via Getty Images

The Securities and Exchange Commission is charging Jun Ying, a former executive at Equifax, with insider trading after he profited nearly $1 million by selling his shares ahead of the company's data breach announcement. Ying avoided roughly $117,000 in losses by selling before the breach that affected nearly 148 million U.S. customers, according to a report from the SEC.

What they're saying: “Corporate insiders who learn inside information, including information about material cyber intrusions, cannot betray shareholders for their own financial benefit,” said Richard R. Best, Director of the SEC’s Atlanta Regional Office.

Why you'll hear about this again: Equifax was at the center of a criminal probe by the U.S. Justice Department after multiple executives sold stock before the company disclosed it was hacked. The investigation was said to be centered around John Gamble, Joseph Loughran and Rodolfo Ploder — Ying, who was reportedly next in line to be CIO, was not among those initial names.

Jonathan Swan 5 hours ago
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Bolton bombshell: the clashes to come

John Bolton
John Bolton speaks at CPAC in 2016. Photo: Andrew Harrer / Bloomberg via Getty Images

Sources close to President Trump say he feels John Bolton, hurriedly named last night to replace H.R. McMaster as national security adviser, will finally deliver the foreign policy the president wants — particularly on Iran and North Korea.

Why it matters: We can’t overstate how dramatic a change it is for Trump to replace H.R. McMaster with Bolton, who was U.S. ambassador to the U.N. under President George W. Bush.

Erica Pandey 6 hours ago
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How China became a global power of espionage

Illustration: Sarah Grillo / Axios

As China’s influence spreads to every corner of the globe under President Xi Jinping, so do its spies.

Why it matters: China has the money and the ambition to build a vast foreign intelligence network, including inside the United States. Meanwhile, American intelligence-gathering on China is falling short, Chris Johnson, a former senior China analyst for the CIA who's now at the Center for Strategic and International Studies, tells Axios: "We have to at least live up to [China's] expectations. And we aren't doing that."