The SEC opened a new comment period to consider objections to proposed revisions to the funding model for the consolidated audit trail.
News & Insights
The SEC disapproved proposed amendments to the National Market System Plan Governing the Consolidated Audit Trail ("CAT"). The amendments would have provided for limited liability to industry members reporting to the CAT, and limited the liability of the Operating Committee and its participants in the case of a systems breach or misuse.
The SEC proposed amendments to the national market system plan governing the Consolidated Audit Trail that would (i) increase security requirements for the use of collected data and (ii) reduce the scope of sensitive information required to be collected.
SEC Chair Jay Clayton and SEC Division of Trading and Markets Director Brett Redfearn reviewed agency efforts to improve equity market structure.
The SEC granted conditional relief from certain Consolidated Audit Trail reporting requirements requested by FINRA and the national securities exchanges.