With test environments for file submission and data
integrity validations for the Consolidate Audit Trail (CAT)
just one month away from opening, the regulator responsible for
the project has told industry members not to expect a
Manisha Kimmel, senior policy advisor of regulatory
reporting at the Securities and Exchange Commission (SEC), told
delegates at the RegTech Summit in New York this week that
preparations are well underway for the massive system that will
track the lifecycle of broker-dealer's orders from April next
"Don't count on it," she said, when asked, adding: "What I
found when I was on the industry side working for a vendor is
that delays cost money – they aren't great. It is in
everybody's interest to go forward and take face."
See also: PRIMER: The Consolidated Audit
Tom Jordan, CEO at fintech company Jordan & Jordan and
moderator of the panel, said:...