https://www.kramerlevin.com/en/perspectives-search/in-echo-of-expert-network-cases-sec-reaches-securities-fraud-settlement-with-alternative-data-provider.html h

https://www.kramerlevin.com/en/perspectives-search/in-echo-of-expert-network-cases-sec-reaches-securities-fraud-settlement-with-alternative-data-provider.html https://www.kramerlevin.com/en/perspectives-search/in-echo-o... The allegations against App Annie are reminiscent of the expert network cases of a decade ago when the SEC and the Justice Department cracked down on consultants who allegedly provided inside information to hedge funds, hedge fund traders who relied on that inside information to make trades, and expert networks that facilitated these information exchanges. As the alternative data industry comes to prominence, like the expert consultant industry before it, it will likely draw increased focus from the SEC and, potentially, federal prosecutors. None of App Annie’s investment firm customers have so far been charged in connection with their use of Intelligence data, but funds and others who subscribe to alternative data sources should take heed and take proactive steps to ensure that the data providers’ representations are accurate and that appropriate measures are taken to ensure that subscribers are not receiving material nonpublic information.