Search Results for keywords:"Consolidated Audit Trail"

The Nasdaq Stock Market LLC filed a proposed rule change with the Securities and Exchange Commission (SEC) to amend its Compliance Rule related to the Consolidated Audit Trail (CAT). This proposal seeks to implement an "Allocation Alternative," which changes the reporting requirements for brokers when allocating shares or contracts to client accounts. The changes aim to ease the reporting burden on executing brokers who do not have the necessary data to submit Allocation Reports, ensuring that those with the relevant information, like clearing brokers, take on this task instead. This approach is intended to maintain the regulatory utility of CAT while reducing compliance costs for brokers.

The document is a notice from the Securities and Exchange Commission (SEC) regarding a proposed amendment to the National Market System Plan governing the Consolidated Audit Trail (CAT). This amendment aims to introduce limitation of liability provisions, which would limit any claims against the CAT LLC to the lesser of $500 or the total fees paid by CAT reporters in the case of a data breach. This move is intended to align with industry standards and prevent potentially high costs and litigation that do not contribute to improved data security. The document invites public comments on whether this proposed amendment is in line with the Exchange Act and appropriately manages the cyber risks involved in maintaining a large, sensitive database like the CAT.

The Securities and Exchange Commission (SEC) announced that NYSE National, Inc. filed a proposed rule change to establish fees for industry members in 2025. This change is related to the costs of the National Market System Plan for the Consolidated Audit Trail (CAT) and involves setting a fee of $0.000022 per executed share, known as CAT Fee 2025-1. The fee is expected to be in effect for six months and aims to cover about half of the anticipated CAT costs for 2025. Public comments on this proposal are invited and should be submitted by January 31, 2025.

The Securities and Exchange Commission (SEC) announced that NYSE Arca, Inc. proposed changes to their fee schedules to support the costs associated with the Consolidated Audit Trail (CAT) plan for 2025. This proposal involves introducing a new fee, named CAT Fee 2025-1, which will be $0.000022 per executed share and aims to cover part of the budget for 2025. The new fee will be effective immediately and is expected to replace the previous CAT Fee 2024-1, which had a higher rate. The SEC is inviting public comments on this proposed change by the end of January 2025.

The Securities and Exchange Commission (SEC) has announced a proposed rule change made by Cboe BZX Exchange, Inc. (BZX) to adjust their compliance rules concerning the National Market System Plan Governing the Consolidated Audit Trail (CAT NMS Plan). This change aligns with a conditional exemption granted by the SEC, allowing an alternative method for reporting allocation details. The modifications redefine "Allocation" and "Allocation Report" to improve the accuracy and efficiency of data reporting by eliminating unnecessary reporting burdens on executing brokers who do not handle allocations. The rule change aims to ensure that only industry members with complete information about allocations are required to submit reports, thereby enhancing overall regulatory efficiency.

The Securities and Exchange Commission (SEC) is considering an amendment to the National Market System Plan concerning the Consolidated Audit Trail (CAT). This proposal, called the CAIS Amendment, aims to reduce the reporting of sensitive customer data in the CAT, such as names, addresses, and dates of birth, which would save approximately $12 million annually. The proposed changes focus on improving data security and lowering operating costs without affecting regulatory surveillance abilities. The SEC is seeking public comments on this proposed amendment to ensure it aligns with the goals of protecting investors and enhancing market efficiency.

The Financial Industry Regulatory Authority, Inc. (FINRA) has proposed a new rule to update fees under FINRA Rule 6897 related to the National Market System Plan's Consolidated Audit Trail for 2025. The updated fee, termed "CAT Fee 2025-1," will be $0.000022 per executed equivalent share. This fee adjustment aims to cover approximately half of the planned costs for 2025 and will replace the existing fee rate of $0.000035. The rule change is effective immediately and seeks public comments on its consistency with the Securities Exchange Act of 1934.