SEC slaps app analytics firm with $10M fine over data practices

The Wall Street Journal reports the U.S. Securities and Exchange Commission reached a $10 million settlement with App Annie, a mobile applications analytics company, in relation to allegations of insufficient disclosure of data practices. It is the first enforcement action against a provider of alternative data used by investors to make trading decisions. Data supplied by App Annie includes consumers' transactions, social media activity and internet search history. Additionally, App Annie Co-Founder and former CEO Bertrand Schmitt was fined $300,000 for his role in the alleged malpractice.