American investors oppose sending their personal information to the Consolidated Audit Trail.
To create a centralized database, the CAT would require investment brokers to hand over to a government regulator the personal and financial information of every American investor.
“Victim of ‘Hacker’ Terrified by Identity Theft,” CBS News
So, what is the Consolidated Audit Trail?
CONSOLIDATED AUDIT TRAIL: (noun) A massive government database collecting the personally identifiable information of every American investor—ripe for identity theft, hacking and data manipulation.