SEC v. Olga Kuprina (insider trading, 2023)

Settled

✓ Checked against the primary document on October 4, 2026. The library's summary, tags and figures for this record were compared with the regulator's own document by an AI model (Claude) following written instructions, with sampled and disputed records read a second time. No lawyer has reviewed them. A checked record can still contain errors, and checked does not mean endorsed. See how we check records or report a correction.

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In February 2023 the SEC instituted and settled a cease-and-desist proceeding against Olga Kuprina over a 2016 to 2017 scheme with associates of hacker Oleksandr Ieremenko to break into the EDGAR system and trade on stolen earnings information. She consented to the order and no civil penalty was imposed because of her guilty plea in a parallel criminal case. The 'spoofing' tag previously shown referred to phishing emails spoofed to look like SEC messages.

The record

What was ordered

Civil penalty

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Disgorgement

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Prejudgment interest

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Total relief

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Alleged gain

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A dash means the release did not state a figure we could extract, not that the figure is zero. Penalty and disgorgement are stored separately so aggregates across the library do not double-count the same dollars.

What is alleged to have happened

The Securities and Exchange Commission instituted the proceeding on February 8, 2023.

The order alleges that from about October 2016 to March 2017 Kuprina, working from Ukraine, helped the group hack EDGAR and exfiltrate material non-public earnings information to use for trading; the spoofed emails were a hacking method, not market spoofing.

The spoofing tag has been removed and the hack-to-trade tag added.

For the regulator's own account of the facts, read the primary document linked above. This page deliberately summarises the structured record rather than reproducing the release.

The proceeding was instituted and resolved on the same day. Kuprina submitted an offer of settlement, which the Commission accepted, and the order was entered with her consent, admitting only the Commission's jurisdiction. The order directs her to cease and desist from further violations of the provisions it cites. It states that, in light of her guilty plea in a parallel criminal case, the Commission imposed no civil penalty. The order refers to the plea but this record does not store a criminal sentence.

What technique is this, and how does it work?

This action is tagged with 2 techniques in our taxonomy. The tagging is ours: regulators charge statutory provisions, not technique names, so the mapping is an editorial judgement described in our editorial policy.

• Insider trading — see how it works, what statute it engages, and every other action tagged the same way.
• Hack to trade — see how it works, what statute it engages, and every other action tagged the same way.

Timeline

1. 2023-02-08 Administrative proceeding instituted (cease-and-desist)
2. 2023-02-08 Order entered by consent: cease-and-desist, no civil penalty imposed

Primary documents

Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.

• SEC order

The linked release is a work of the United States government and is not subject to copyright. Our summary and narrative above are our own writing.

Related actions

Other actions in the library sharing at least one technique tag with this one.

Record added September 10, 2026. submit a correction.