House Approves Market Data Protection Act

Market Data Protection Act will increase security requirements for market data held by the SEC and FINRA, lawmakers say.

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The Market Data Protection Act of 2017 would require the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), and the operator of the Consolidated Audit Trail (CAT) to consult with the SEC’s chief economist and develop internal risk control mechanisms to safeguard and govern the storage of market data, all market data-sharing agreements, and all academic research using market data.

The bill follows criticism from Congress over the SEC’s ability to store

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