[Congressional Record Volume 164, Number 62 (Tuesday, April 17, 2018)]
[House]
[Page H3352]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                         MARKET DATA PROTECTION

  (Mr. DAVIDSON asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. DAVIDSON. Mr. Speaker, the Consolidated Audit Trail stands as the 
largest financial database in the world and ranks second in size only 
to the NSA's database.
  The value of the sensitive information housed within this database 
includes Social Security numbers, broker numbers, account numbers. In 
fact, it is comparable to nine times the wealth that is in Fort Knox--
far more sensitive than the Equifax data, whose breach affects 143 
million Americans.
  Despite the enormity of wealth within this database, the unfortunate 
reality is that its cybersecurity is not yet adequate. The Government 
Accountability Office report found the SEC's systems ``at unnecessary 
risk of compromise.'' The CAT operator recently delayed the issuing of 
technical specifications, which means that industry will have just 1 
month to transmit all of this market data.
  Mr. Speaker, I introduced the Market Data Protection Act, which 
passed this House with unanimous support, to guarantee the private 
information of hundreds of millions of Americans transmits securely and 
without risk. Mr. Speaker, I strongly urge my colleagues in the Senate 
to send this bill to the President's desk.

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