Fox News:
Republican lawmakers and the American Securities Association (ASA) say the Securities and Exchange Commission (SEC) is violating the Fourth Amendment by putting together a list that contains the private information of investors.
The Consolidated Audit Trail (CAT) database was originally proposed by the SEC in 2010 to help regulators track order and trading activity throughout U.S. markets for listed equities and options. According to the ASA, the database will list all the financial holdings and personal information of investors, including their name, phone, address, brokerage accounts, birthdate and Social Security numbers. READ MORE