CAT Offers "Roadmap" for CAIS Reporting Obligations for Small Firms
The Consolidated Audit Trail ("CAT") provided a roadmap to assist "Small Industry Members" in meeting their Customer and Account Information System ("CAIS") reporting obligations. All Industry Members (Large and Small) must report Customer and Account information to CAT CAIS for all Active Accounts by July 11, 2022.
To comply, a broker-dealer must:
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report equities, options and/or multi-leg transaction events containing the field firmDesignatedID to the CAT transaction system;
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submit a CAT CAIS Registration Form;
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grant CAT CAIS Test Environment Entitlement to personnel within the firm;
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report CAT CAIS data through a CAT Reporting Agent or through self-reporting;
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establish a CAT CAIS Reporting Relationship with a CAT Reporting Agent; and
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certify for full CAIS production no later than June 20, 2022.