Equifax Inc. (NYSE: EFX) Interim Chief Executive Officer, Paulino Do Rego Barros, Jr., issued the following statement in response to the announcement that the U.S. Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) have brought charges against Jun Ying, a former employee of Equifax:
“Upon learning about Mr. Ying’s August sale of Equifax shares, we launched a review of his trading activity, concluded he violated our company’s trading policies, separated him from the company and reported our findings to government authorities. We are fully cooperating with the DOJ and the SEC, and will continue to do so.
“We take corporate governance and compliance very seriously, and will not tolerate violations of our policies.”
Further Information: The government action is unrelated to the four executives who, in November, were found by a Special Committee of the Board not to have engaged in insider trading. An independent investigation concluded that the four executives fully complied with company policy and were not aware of the cybersecurity incident at the time they sold company shares. Mr. Ying sold shares nearly a month after the trades by the four executives. The Special Committee’s report is available at https://investor.equifax.com/news-and-events/news/2017/11-03-2017-124511096.
Source: Equifax Press Release