Advancing American Freedom, a conservative group founded by former Vice President Mike Pence, is sounding the alarm about a Biden administration effort to collect Americans’ private financial information, according to a memo obtained by the Daily Caller News Foundation.
The Securities and Exchange Commission (SEC) in 2012 authorized a program to make it easier for financial regulators to track transactions in U.S. markets by creating a “consolidated audit trail,” or CAT. This would require brokerages and exchanges to collect and report certain financial information to regulators and other financial organizations. Under the Biden administration, the SEC approved a new funding model for CAT in September 2023.
Read More