SEC: Don't count on CAT delay

Author: John Crabb | Published: 15 Nov 2019

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 delay.

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 year.

"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 Trail 

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