Advancing American Freedom led a coalition of 51 other amici in filing an amicus brief in Davidson v. Atkins urging the Western District of Texas to deny the Securities and Exchange Commission’s (SEC) request to delay its consideration of the Consolidated Audit Trail (CAT) for another six months. The CAT is a massive data collection program established by the SEC without congressional approval. The CAT collects personal information of the buyer and seller in every stock sale in the United States. As AAF argued in its amicus brief filed on August 22, 2024, this program is illegal in numerous way and is a magnet for hackers.
As T.S. Eliot wrote “With [CAT], some say, one rule is true: Don’t speak till you are spoken to.” In fact, the CAT is collecting your data whether you know it or not.
“Justice delayed is justice denied for tens of millions of American stockholders whose data is subject to the CAT database,” said AAF General Counsel J. Marc Wheat. “This case has been ongoing for over a year and a half and yet the SEC asks the court to delay its consideration for another six months while it considers whether it will voluntarily, at some point in the future, stop illegally collecting Americans’ data. The court should reject that request.”