SIFMA Submits Comments on and Recommendations for 2014 Priorities to CAT Development Advisory Group

SIFMA submitted comments to the Development Advisory Group ("DAG") for the Consolidated Audit Trail ("CAT") that provide specific suggestions for high-priority areas that SIFMA advises the DAG to address in 2014.

SIFMA stated that, with the SRO's selection process for the CAT processor having been approved by the SEC, and the final processor selection expected in 2014, SIFMA believes that the DAG should refocus its efforts to address the broader policy issues surrounding the development of CAT that are "now more timely than the detailed analysis of granular operational issues."

SIFMA suggested that the DAG focus on four primary issues:

• the elimination of systems and rules;
• equitable cost and funding;
• industry integration in governance; and
• transparency in the bidding and selection process.

See: SIFMA Comment Letter. Related news: SEC Approves Proposed Joint NMS Plan Regarding the Consolidated Audit Trail (with Lofchie Comment) (February 24, 2014).