Mar. 12, 2023
March 12, 2023 I agree with my SEC colleagues who are against this rule making. I would not trust any 3rd party Northrop Grumman / Accenture wanna-be regulator with my financial data. This is a terrible idea. The SEC needs to keep this data in house. This third party compliance system would open the agency up to risk of hackers compromising staff financial data and thus SEC operations. If the SEC moves forward with this they should provide another comment period with the details on the system. Who is the lowest common denominator bidder that got the contract? What risk controls do they have in place? Staff definitely should have the right to opt out of any automated compliance and instead be able to file the way we currently do.... Uploading our brokerage statements and making an SEC staffer review and realize how little we make in this job to actually invest in the market. The IRS allows people to file by paper and they manage hundreds of millions of returns. The SEC can't handle some uploaded paper filings? Thanks.