FINRA Proposes Amendments to CAT NMS Plan Compliance Rule

FINRA proposed amendments to the rules governing the Consolidated Audit Trail ("CAT") to make them consistent with an SEC conditional exemption from allocation reporting requirements in the CAT NMS Plan.

The proposal would amend the FINRA Rule 6800 Series ("Compliance Rules") to, among other things, (i) add a definition of "Allocation" to FINRA Rule 6810 ("Definitions"), (ii) amend the definition of "Allocation Report" to reflect the requirements of the SEC's conditional exemption, and (iii) eliminate the prime broker SRO-Assigned Market Participant Identifier reporting and recordkeeping requirement for executing brokers.

Comments on the proposed amendments must be submitted within 21 days after their publication in the Federal Register.