Former Securities And Exchange Commission Chair Gary Gensler lost nearly a year of text messages after an automated IT action, a federal review found.

According to a special review by the SEC’s Office of Inspector General, information technology staff triggered an automated “enterprise wipe” that erased text messages sent and received on Gary Gensler’s government phone between October 18, 2022, and September 6, 2023.

The review says the device had not been backed up during that interval, and routine alerts and change controls were missed or ignored.

Gary Gensler & The Missing Text: Inspector General’s Findings

The OIG report found the wipe resulted from a poorly understood automated policy put in place by the SEC’s Office of Information Technology in August 2023.

Based on the review, the wipe was avoidable and was compounded by weak change management, failures to act on vendor software flaws, and a lack of timely backups — gaps that left key messages unrecoverable. The report lists recommendations and said agency management has responded with corrective steps.

Source: US House Committee on Financial Services

Lawmakers See A Double Standard

House Republican leaders are pressing the SEC for answers. Based on reports from the House Financial Services Committee, Republican chairmen have written to SEC Chair Paul Atkins seeking details about how the loss happened, what records were affected, and whether the agency’s recordkeeping

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Author: Christian Encila