SEC's 'Orwellian' Trade Database Is Unlawful, 11th Circ. Told

[Gunnar Larson]

SEC's 'Orwellian' Trade Database Is Unlawful, 11th Circ. Told
<https://www.law360.com/cybersecurity-privacy/articles/1796332?nl_pk=3dfd2fda-f577-4ca3-b044-105f63bbbdaf&utm_source=newsletter&utm_medium=email&utm_campaign=cybersecurity-privacy&utm_content=2024-02-12&read_main=1&nlsidx=0&nlaidx=6>

By Jessica Corso

Citadel Securities LLC and the American Securities Association have laid
out their objections to a U.S. Securities and Exchange Commission directive
that requires brokerage firms to fund the buildup of a database known as
the consolidated audit trail, telling the Eleventh Circuit that the tool
created an "Orwellian surveillance regime" that puts American investors at
risk of being hacked.

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<https://www.law360.com/cybersecurity-privacy/articles/1796332?nl_pk=3dfd2fda-f577-4ca3-b044-105f63bbbdaf&utm_source=newsletter&utm_medium=email&utm_campaign=cybersecurity-privacy&utm_content=2024-02-12&read_more=1&nlsidx=0&nlaidx=6>
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