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SEC Urged To Delay Start Of Audit Trail Over Cyber Risks

Law360, New York (October 4, 2017, 4:05 PM EDT) -- A top Republican lawmaker pressed U.S. Securities and Exchange Commission Chairman Jay Clayton on Wednesday to postpone the planned November launch of a massive database known as the Consolidated Audit Trail, citing the recent disclosure of a hack into the agency's data system on public companies.

House Financial Service Committee Chairman Jeb Hensarling of Texas expressed concerns about the agency's ability to oversee CAT, a data repository that will track real-time trading in the securities market. CAT is set to go live Nov. 15, but Hensarling...
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