The Marixist in the Biden Regime once again Demostrate that they have No Use for the US Constitution as the SEC announces plan to Spy on America's Stock Investment which they have NO RIGHT to Do! See You in Court!!!
by Kevin Stocklin, The Epoch Times, April 21, 2024
All stock trades conducted on U.S. exchanges will soon be surveilled by the government, according to a newly implemented plan by the Securities and Exchange Commission (SEC).
The SEC’s “Consolidated Audit Trail” (CAT) mandate would “allow regulators to efficiently and accurately track all activity throughout the U.S. markets,” the SEC stated.
In announcing the launch of this plan, SEC Chairman Gary Gensler stated in September 2023 that “prior to CAT’s creation, regulators lacked a consolidated view of the material information of all orders in [exchange-traded] securities.”
The CAT plan was originally proposed under the Obama administration in 2012 but remained dormant under the Trump administration. It is currently being resurrected under the Biden administration.
This plan ran into some resistance last week, however, from a group of lawyers and retired judges who see it as a historic violation of Americans’ civil rights.
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According to the NCLA and others who have joined the legal action, the plan expands a trend of already extensive government surveillance, exceeds the SEC’s authority, and infringes on Americans’ Fourth Amendment protections against warrantless government searches.
“The SEC has no statutory authority to do this at all,” Peggy Little, senior litigation counsel with the NCLA, told The Epoch Times, calling the plan “a surveillance system.”
“We think it’s vital to strangle this new illegal power grab,” Scott Shepard, director of the Free Enterprise Project, who has signed on to the complaint, told The Epoch Times.
