Tuesday, 07 Jul, 2026

The Watchful Eye: Inside the SEC’s Massive Consolidated Audit Trail (CAT) Surveillance Project

The landscape of American financial markets is undergoing a seismic, structural shift. Beneath the veneer of regulatory efficiency lies the Consolidated Audit Trail (CAT), a sprawling, government-mandated surveillance apparatus designed to capture, record, and analyze every single equity and options trade executed on United States exchanges. While proponents argue that the system is essential for […]