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Magnus Höij / Flickr Creative Commons

The Wall Street Journal's Aruna Viswanatha and Robert McMillan report that the Securities and Exchange Commission has opened an investigation into whether Yahoo erred in how it disclosed two major data security failures to investors.

Why it matters to Washington: There's been political pressure on the SEC to open an investigation into Yahoo's behavior. The SEC's actions could sharpen years-old guidance on how companies need to disclose data breaches, experts told the Journal.

Why it matters to Wall Street: The breaches raised questions about Verizon's proposed purchase of Yahoo's main web assets, and a formal SEC investigation piles on new doubts about the deal.

What they're saying: Very little. Verizon and the SEC declined to comment. A Yahoo spokesman noted that the company said in a November filing that it was cooperating with authorities looking into one of the breaches, including the SEC.

Go deeper

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: Coronavirus cases rose 10% in the week before Thanksgiving.
  2. Politics: Supreme Court backs religious groups on New York coronavirus restrictions.
  3. World: Expert says COVID vaccine likely won't be available in Africa until Q2 of 2021 — Europeans extend lockdowns.
  4. Economy: The winners and losers of the COVID holiday season.
  5. Education: National standardized tests delayed until 2022.
3 hours ago - Health

Standardized testing becomes another pandemic victim

Photo: Edmund D. Fountain for The Washington Post via Getty

National standardized reading and math tests have been pushed from next year to 2022, the National Center for Education Statistics (NCES) announced Wednesday.

Why it matters: There’s mounting national evidence that students are suffering major setbacks this year, with a surge in the number of failing grades.

4 hours ago - World

European countries extend lockdowns

A medical worker takes a COVID-19 throat swab sample at the Berlin-Brandenburg Airport. Photo by Maja Hitij via Getty

Recent spikes in COVID-19 infections across Europe have led authorities to extend restrictions ahead of the holiday season.

Why it matters: "Relaxing too fast and too much is a risk for a third wave after Christmas," said European Commission President Ursula von der Leyen.