News | 11.08.19
Amazon Draws Fire for Participation in Massive SEC Database
The American Securities Association (ASA) is criticizing Amazon's role in the SEC-sponsored consolidated audit trail (CAT), saying the Capital One breach tied to the company's cloud computing software could be a warning sign of potential risks. CAT will require all broker-dealers to submit information on the inception, routing, cancellation and execution of orders. “The selection of AWS (Amazon Web Services) as cloud service provider for the CAT is extremely concerning to us given the open questions regarding AWS’ role in the recent data breach at Capital One,” ASA wrote in a letter to the Financial Stability Oversight Council. ASA urged the council to remove personally identifiable information from CAT. The council was scheduled to meet Thursday in closed session today to discuss the risks posed by third-party providers.
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