Commissioner Peirce Voices Investor Privacy Concerns

Follows FBI Director warning of Chinese hackers targeting Americans’ data

WASHINGTON – The American Securities Association (ASA) today commended Commissioner Hester Peirce for delivering remarks outlining the many data, privacy, and Constitutional concerns regarding the Securities and Exchange Commission’s (SEC) Consolidated Audit Trail (CAT) database. Commissioner Peirce’s speech followed testimony from Federal Bureau of Investigation (FBI) Director Christopher Wray sounding the alarm on the economic and national security threat China poses to every American through its hacking and theft of their personal data.

“Commissioner Peirce is a champion for privacy, the Constitution, and the rights of every American investor,” said ASA CEO Chris Iacovella. “ASA commends Commissioner Peirce for her leadership on the CAT and her work to protect investor privacy. We strongly recommend the SEC heed FBI Director Wray’s recent warning about Chinese hackers targeting Americans, and end the collection of the personal and financial data of every mom-and-pop retail investor before it’s too late.”

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