SEC statement on CAT delay ‘exactly what industry was looking for’

Author: John Crabb | Published: 10 Sep 2018

Market participants have taken it upon themselves to provide much-needed clarity on consolidated audit trail (CAT) provisions, after the Securities and Exchange Commission (SEC) admitted it didn’t expect US national security exchanges and the broker-dealer community to meet compliance deadlines.

A group of industry members released technical specifications for participants in the CAT that offer information to help understand their responsibilities to comply with SEC Rule 613 and the CAT plan, and also describe requirements for reporting CAT data such as detailed information about data elements and the file formats of each reportable event. This is the first time that a full-fledged detailed specification has been provided to the industry, which now has three weeks, until October 1, to provide feedback.

Of note

In a statement, Brett Redfearn, director of the SEC division of trading and markets, announced the SEC wouldn’t expect to take enforcement action for failure to...


 

 

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