DD Support Board and Research Team

[hedge_fun]

Bill Barr isn’t part of the lawsuit…….FYI

Can you cite any statutory authority the SEC has to collect and store this data?

If not, why?

Regardless, the SEC will have their day to explain themselves.

This lawsuit concerns an unprecedented scheme by an administrative agency, the Securities and Exchange Commission (SEC), to unilaterally set in motion one of the greatest government- mandated mass collections of personal financial data in United States history: the Consolidated Audit Trail (CAT).

https://nclalegal.org/wp-content/uploads/2024/04/001-2024.04.16-CAT-Complaint.pdf

SEC Commissioner Hester Peirce has called the CAT system “a dangerous dog,” pointing out that Americans would never tolerate government organizations partnered with private firms to collect complete information on everything they buy or give government a “direct feed” of movements from their cars’ GPS systems. Yet the CAT proposes to do just that by commandeering SROs and thereby forcing all investors to turn over to the government the far more valuable—and vulnerable—set of information about their investments and retirement savings.

https://nclalegal.org/2024/04/ncla-unleashes-lawsuit-to-take-down-secs-illegal-mass-data-collection-machine/