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AAF Applauds Court Decision on CAT; Urges SEC Action - Advancing American Freedom
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AAF Applauds Court Decision on CAT; Urges SEC Action - Advancing American Freedom
On Friday, the Eleventh Circuit Court of Appeals rightly ruled in American Securities Association v. SEC that the funding structure of the Consolidated Audit Trail (CAT) violates the Administrative Procedure Act. The CAT, a massive data collecting effort that tracks every stock trade and matches it to personally identifiable information, is illegal in numerous ways. The CAT is funded by fees assessed against regulated entities, not by congressio…
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