Financial Services Members Outline Concerns with Consolidated Audit Trail to SEC Chair Atkins
Washington,
February 5, 2026
House Committee on Financial Services Chairman French Hill (AR-02), Subcommittee on Capital Markets Chairman Ann Wagner (MO-02), and Rep. Barry Loudermilk (GA-11) sent a letter to Securities and Exchange Commission (SEC) Chairman Paul Atkins outlining longstanding concerns with the Consolidated Audit Trail (CAT). In the letter, the Members commend Chairman Atkins for steps already taken to limit the collection of sensitive data, reduce unnecessary costs, and initiate a comprehensive review of the CAT. They urge the SEC to codify these reforms and recommend deferring approval of any new CAT funding model until the review is complete and its findings are shared with Congress. The Members also request a clear timeline and regular briefings on the review’s progress, emphasizing the importance of mitigating privacy, security, and governance concerns for all Americans. Click here to read the full letter. |