
SEC Plan to Track Americans’ Stock Investments Sparks Legal Fight
All stock trades conducted on U.S. exchanges will soon be surveilled by the government, according to a newly implemented plan by the Securities and Exchange Commission (SEC). The SEC’s “Consolidated Audit Trail” (CAT) mandate would “allow regulators to efficiently and accurately track all activity throughout the U.S. markets,” the SEC stated. In announcing the launch of this plan, SEC Chairman Gary Gensler stated in September 2023 that “prior to CAT’s creation, regulators lacked a consolidated view of the material information of all orders in [exchange-traded] securities.” The CAT plan was originally proposed under the Obama administration in 2012 but remained dormant under the Trump administration. It is currently being resurrected under the Biden administration....
