The Securities and Exchange Commission is illegally collecting data from American citizens who invest in the stock market, according to a lawsuit, per the New York Post.
The report noted that New Civil Liberties Alliance filed the lawsuit on Tuesday against the SEC. The NCLA claimed that the agency, through its "Consolidated Audit Trail" program, is actively gathering mass amounts of personally identifiable data.
The SEC is allegedly forcing brokers, exchanges, and clearing agencies to send comprehensive information on every investor's trades in U.S. markets to a centralized database, according to the report.
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