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From the Hill House Financial Services Committee Hearing “Implementation and Cybersecurity Protocols of the Consolidated Audit Trail” November 30th @ 10:00 am The hearing will examine the status of the CAT’s implementation and the current adequacy of existing data security protections regarding the storage and use of CAT data by entities that are part of the CAT operating committee, the CAT plan processor, and the SEC. It also will examine whether additional cybersecurity protocols are necessary to properly safeguard collected data, including personally identifiable information (PII). More details here

STA Lighthouse brought to you by Jones Trading Whatever Became of Active Investment? Is Capital Formation Next?  by Jim Toes Most would agree that the decline in the number of IPOs is not attributed to any single regulatory or competitive event and that in today’s world of low interest rates and private equity new companies have more alternatives for raising capital thus foregoing the traditional IPO process. But what about the growth of passive investing and its impact on active managers? Is there a connection between later's demise and our public markets' ability to be an attractive capital raising alternative for new companies? Has passive investing become so powerful that it has not only marginalized active management, but also capital formation? full article here

Upcoming Affiliate Conferences  brought to you by Virtu

As the holiday season approaches make plans to attend an STA Affiliate Holiday event near you. These gatherings provide a unique opportunity to celebrate with friends, colleagues and yes, even competitors! see affiliate holiday events here

STA in DC  STA bulletin to Congress opposing FIFO cost basis. "The Security Traders Association, (“STA”) opposes the provision in the Tax Cuts and Jobs Act reported by the Senate Finance Committee that would generally require taxpayers selling, gifting or otherwise disposing of securities to determine cost basis on a first-in, first-out (FIFO) basis, effective for dispositions on or after January 1, 2018." full bulletin here

STA Women in Finance brought to you by Thomson Reuters Reconnect this Holiday Season with a Tech Detox by Jodie Mrotek According to experts, Americans spend more than half of their waking life staring at a screen. Many of us would agree with this statistic, and also with the fact that there are real negative consequences of this behavior. Finding the motivation or strength to change it, however, is very difficult. Well, maybe that motivation can be found in the holidays. full article here

Featured Charity

Marine Toys for Tots Foundation The mission of Marine Toys for Tots Foundation is to assist the U. S. Marine Corps in providing a tangible sign of hope to economically disadvantaged children at Christmas. Marine Toys for Tots is supported by several STA Affiliates. Please visit www.toysfortots.org for more information and to learn how you can help support their mission. *Each month STA will feature a charity supported by an STA Member. If you are an STA Member involved in a cause, please submit information to sta@securitytraders.org