WASHINGTON, June 1 -- Sen. John Kennedy issued the following press release:
Sen. John Kennedy (R-La.), a member of the Senate Banking and Judiciary Committees, joined Sen. Tom Cotton (R-Ark.) and 10 other colleagues in filing an amicus brief in American Securities Association and Citadel Securities LLC v. SEC, a case in the Eleventh Circuit Court of Appeals challenging the Securities and Exchange Commission's (SEC) Consolidated Audit Trail (CAT).
The SEC's CAT is a vast surveillance tool that tracks and collects all customer and order information for equity securities and listed options, including data that might be considered personal identifiable information.
Congress did not authorize the CAT, leaving investors to pay higher costs fo...