What is Stock Audit?

How will the Consolidated Audit Trail (CAT) work?

• ...bidding is under way to build a powerful computer to give federal regulators that fuller view of the way the market works. The Consolidated Audit Trail, or CAT, will be one of the largest databases in the world, designed to funnel 50 billion daily records into an archive. The computer will track every stock quote, order, and trade, including when and where transactions occur, the brokers who handle them, and the customers they represent. The CAT will pull data from the 18 U.S. public stock and options exchanges and the private trading venues run by banks, known as dark pools, that don’t have to immediately report data to the SEC. http://mobile.businessweek.com/articles/2014-08-07/sec-computer-for-dark-pool-scrutiny-is-a-slow-build?campaign_id=yhoo

• Answer:

  I guess it will just results in more use of trusts or offshore investing; from offshore entities or in offshore markets. People don't even have to give up their citizenship. People can even even set up accounts in the name of strangers on the poverty line. Govts are useless. The purpose of such laws is really to discourage compliant people rather than to reign in the non compliant. Govts simply move too slow and offenders are brazen.