Former Head of SEC’s Market Abuse Unit Daniel Hawke Speaks With Sherwood on Trade Group’s Challenge to CAT
October 8, 2024
Securities Enforcement Litigation partner Daniel Hawke was recently quoted in the Sherwood article, “Dead CAT Bounce?” regarding a trade group’s brief to the 11th U.S. Circuit Court of Appeals that aims to eliminate the Consolidated Audit Trail (CAT), a large trading data repository established by the U.S. Securities and Exchange Commission. CAT enables U.S. regulators to monitor activities and conduct investigations in the financial markets, which the trade group has argued constitutes an unlawful power grab by the SEC.
“If the 11th Circuit were to strike down the commission’s rule developing the CAT, it would cause the agency significant consequences,” Hawke said.
