12 September 2018
Vivian Maese, Global Co-Chair of Latham’s Financial Institutions Group and FinTech Industry Group, was named to The National Law Journal’s (NLJ) inaugural list of Cryptocurrency, Blockchain, and FinTech Trailblazers, which recognizes legal professionals who have made significant contributions to the practice, policy, and technological advancements in their sector. Maese was lauded for her pioneering career at the cutting-edge of financial services, regulation, and technology, and as a lawyer who has “moved the needle in facilitating new technologies and digital currencies.”
Maese currently leads a Latham team serving as legal counsel to Thesys CAT in the development and implementation of the SEC's groundbreaking Consolidated Audit Trail (CAT), as CAT’s Plan Processor. Following the flash crash in May 2010, the SEC called for the national securities exchanges and Financial Industry Regulatory Authority (FINRA) to create an audit trail that would give regulators a clearer view of trading activity in the computerized marketplace. The CAT system, the world’s largest database of trading and market activity ever created, will collect and identify every order, cancellation, modification, and trade execution for all exchange-listed equities and options across all US markets. The SEC has referred to the CAT system as the “Hubble Telescope for the securities markets” that will improve regulators’ ability to understand and analyze financial transactions and more quickly respond to market manipulation. Latham is advising Thesys CAT on a range of complex issues, including financial services regulatory, compliance, legislative, technology transactional, human resources, corporate governance, cybersecurity, and data privacy.
Maese told the NLJ that the CAT system “will transform how we supervise trading, understand our markets, and make them safer.”