This is a rare privacy compromise of which I actually immediately thought "that sounds like a good idea, and I thought it was already done".<p>(I tend to disagree with most other compromises.)<p>I want integrity in investments, I know there are bad actors in finance, and I want them found and smacked down. I see no downside to the SEC knowing exactly what regulated investments I have.<p>I also see no downside to anyone else having the SEC know exactly what regulated investments they have, unless they are involved in some kind of investment fraud or scam, tax evasion, hiding/laundering illegal income, etc. (Yeah, I realize I'm saying "if you have nothing to hide...", which is usually a red flag for a bad idea, but in this case, we're only talking about regulated investments, nothing more, AFAICT.)<p>Am I missing something?
Haven't they been doing this with ARTEMIS for many years?<p>From 2015: <a href="https://www.sec.gov/news/statement/remarks-21st-international-institute-securities-enforcement" rel="nofollow noreferrer">https://www.sec.gov/news/statement/remarks-21st-internationa...</a><p>"our staff also developed a tool called ARTEMIS, which stands for the Advanced Relational Trading Enforcement Metrics Investigation System. This initiative analyzes suspicious trading patterns and relationships among multiple traders and uses the Division’s electronic database of over 6 billion electronic equities and options trading records."
And if you get more than $10 in interest from your bank in a year, your bank will tell the government the amount of interest earned through the 1099-INT form. This can be used to infer what your average balance was for the year.
My only problem with this is using Social Security Numbers which were explicitly designed not to be good for identification. Why not tie it to well designed ID numbers like Passport or State ID (Real ID compliant) numbers.
I am wondering how much this costs to run. Imagine tracking every action of high speed traders, all of them plus everone else. That would be way expensive.
I'm not entirely sure how people do that archive function, but here's the article in a paste bin:<p><a href="https://pastebin.com/wJQSHr5f" rel="nofollow noreferrer">https://pastebin.com/wJQSHr5f</a>