ASA Welcomes SEC’s CAT PII Exemption

WASHINGTON – The American Securities Association (ASA) today applauded the Securities and Exchange Commission (SEC) for providing an exemption from the requirement to report certain personally identifiable information (PII) – names, addresses, and years of birth – to the Consolidated Audit Trail (CAT) for natural persons.

 “ASA welcomes the Trump administration and SEC Acting Chairman Uyeda’s important first step to protect every American investor from warrantless government surveillance and the constant threat of CCP-backed cyber armies,” said ASA President and CEO Chris Iacovella. “Since 2018, ASA has worked to protect retail investors and retirement savers from being forced into this dangerous national registry, and we look forward to working with this SEC to finish the job and finalize a rule that ensures bureaucrats in the administrative state can never disregard the constitutional privacy rights of Americans again.” 

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The American Securities Association (ASA) represents the retail and institutional capital markets interests of regional financial services firms who provide Main Street businesses with access to capital and advise hardworking Americans how to create and preserve wealth. ASA’s mission is to promote trust and confidence among investors, facilitate capital formation, and support efficient and competitively balanced capital markets. This mission advances financial independence, stimulates job creation, and increases prosperity. The ASA has a geographically diverse membership of almost one hundred members that spans the Heartland, Southwest, Southeast, Atlantic, and Pacific Northwest regions of the United States.