News | 11.21.19
Jay Clayton Says SEC Will Collect Only Limited Information About Investors in New Market Surveillance Initiative
SEC Chair Jay Clayton said Tuesday that the Consolidated Audit Trail (CAT) will limit the amount of data it collects on investors to their names, addresses, and telephone numbers. The CAT is designed to help securities regulators detect and quickly react to events that disrupt the markets and could potentially harm investors. Skeptics assert it could expose investors' personally identifiable information to hackers. In an appearance at the Securities Industry and Financial Markets Association annual meeting, Clayton said the SEC needs the ability to do "market reconstruction" but will keep investors' data safe in the process.
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