NCLA Unleashes Lawsuit to Take Down SEC’s Illegal Mass Data Collection Machine

Administrative Static Podcast

NCLA launched a Complaint against the SEC challenging the agency’s unconstitutional “Consolidated Audit Trail.” The CAT is the largest government-mandated mass collection of personal financial data in American history. Without any statutory authority, SEC is forcing brokers, exchanges, clearing agencies and alternative trading systems to capture and send detailed information on every investor’s trades in U.S. markets to a centralized database, which SEC and private regulators can access forever.

Mark and Vec are joined by NCLA Senior Litigation Counsel Andrew Morris to discuss this unlawful, unprecedented seizure and mass surveillance scheme.

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