FINRA and the national securities exchanges (the "Participants") participating in the National Market System Plan Governing the Consolidated Audit Trail ("CAT") amended their previous request to the SEC for exemptive relief from certain reporting requirements. The amended proposal alters the way in which broker-dealers executing a trade would report the identity of the clearing broker and information as to cancelled trades. The Participants argued that their amended proposal would not result in any loss of data.
The Participants also proposed an alternative phased implementation schedule, with full implementation by December 15, 2022.
Originally published June 05, 2020.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
