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ARTICLE · 20 SEPTEMBER 2021

Alternative Data Company Settles SEC Charges For Failure To Anonymize Data

Hogan Lovells Cadwalader
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As outlined in the SEC Order, the company offers a free analytics product that helps users track the performance of their mobile apps.

United StatesCorporate/Commercial Law
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A company that collects and sells alternative market data and its former CEO settled SEC charges for (i) materially misrepresenting how the company obtained its data, and (ii) engaging in deceptive customer acquisition and retention practices.

As outlined in the SEC Order, the company offers a free analytics product that helps users track the performance of their mobile apps. The SEC stated that the company represented to users of the product that their app performance data would be aggregated and anonymized before it was packaged for sale to third parties. The primary purchasers of the performance data were securities trading firms that used the data to make investment decisions.

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