Citadel Securities, trade body sue US SEC over 'consolidated audit trail'
The litigation, brought before the U.S. Court of Appeals for the 11th Circuit in Atlanta, escalates the investment industry's battle with the U.S. Securities and Exchange Commission over the so-called Consolidated Audit Trail (CAT). "The SEC has overstepped its statutory authority and failed to address investor and industry concerns, leaving us no choice but to litigate," the ASA said in a statement.
Source: yahoo.com
