Commissioner Elisse B. Walter's Opening Remarks Regarding the Adoption of Final Rules for the Consolidated Audit Trail

In this statement, SEC commissioner Elisse Walter addresses the adoption of the Final rules for a Consolidated Audit Trail. Commissioner Walters talks about the increasing need for regulation in the U.S. capital markets, and how a Consolidated Audit Trail system would allow for cross market tracking that would give the SEC the information needed for determining market manipulation. Walters goes on and lists the many other benefits that could result from such a system, but then expresses her disappointment and dissent towards the adopted rule. In her opinion, the rule fails to provide proper guidelines for a Consolidated Auditing Trail and would ultimately affect the efforts to create the storng system that is needed in today's market. Walters concludes by encouraging SROs to go above and beyond in their compliance with the rule in order to construct a solid foundation for the system in the future.