Securities Law Daily: Dodd-Frank Redo Would Limit SEC Access to Source Code

The SEC couldn’t gain nearly unrestricted access to trading systems’ computer software under a new Republican proposal to overhaul the Dodd-Frank Act. House Financial Services Chairman Jeb Hensarling would require the SEC to obtain a subpoena before getting access to source code, according to a committee memo laying out changes to his Financial Choice Act.

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MMI Comment Letter to the CFTC Regarding Supplemental Notice of Proposed Rulemaking for Regulation AT

This Proposed Rule threatens to erode confidence in our country’s resolve to uphold the regulatory standards that protect the innovation that drives much of our economy. Despite the changes in the proposed rule as listed in the Supplemental, it still grants a government agency the ability to bypass due process to access confidential and highly sensitive trade secrets protected by intellectual property rights. As such, this provision should not be included in the final rule and the subpoena process should remain.

READ THE LETTER HERE