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SIFMA Supports SRO Delay of CAT System Implementation

SIFMA issued a statement supporting the delay in implementing the Consolidated Audit Trail ("CAT") system until the fourth quarter of 2022.

SIFMA stated that the delay was intended to allow firms more time to address reporting and related operational challenges and to prepare to report detailed retail and institutional trading data. SIFMA also reiterated concerns about the security of the data that will be held by CAT, and urged the SEC "to adopt its August 2020 CAT data security proposal."

Primary Sources

  1. SIFMA Statement on the Delay of the CAT Customer and Account Information System
  2. Federal Register: 87 FR 15022 - Notice of the Text of the Proposed Amendments to the National Market System Plan Governing the Consolidated Audit Trail for Purposes of Short Sale-Related Data Collection

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Tags

Regulated Activities
Trade Reporting
Regulated Entities
Broker-Dealers
Body of Law
Securities Law
Jurisdiction
US - Federal
Organization
Trade / Industry Associations
Sub-Author
SIFMA