If you think your investments and speculation are private, guess again. From Mish Shedlock at mishtalk.com:
The SEC is now tracking your stock trades by your Social Security Number. It shares the data with 3,000 outside agencies.
What’s in Your Portfolio?
In 2012 the SEC approved a new rule requiring a Consolidated Audit Trail to Monitor and Analyze Trading Activity.
“A consolidated audit trail that accurately tracks orders throughout their lifecycle and identifies the broker-dealers handling them will provide us with an unprecedented ability to effectively oversee the markets we regulate,” said SEC Chairman Mary Schapiro.
The new rule becomes effective 60 days after its publication in the Federal Register. SROs are required to submit the NMS plan to the Commission within 270 days of the rule’s publication in the Federal Register. Once the Commission approves the NMS plan, the SROs are required to report the required data to the central repository within one year, and members of the SROs are required to report within two years. Certain small broker-dealers will have up to three years to report the data.
The SEC is Now a Spy Agency
This ruling was in response to a 2010 flash crash and quietly sat for years. The SEC is now following through.
