Search Results for keywords:"regulatory efficiency"

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) has approved amendments to the National Market System Plan, which manages the Consolidated Audit Trail (CAT) to implement cost-saving measures. Key changes allow switching certain data related to options market maker quotes to less costly storage, minimize processing requirements, and permit the deletion of industry test data after three months instead of retaining it for longer. These changes aim to reduce operational costs significantly, with estimates suggesting savings of approximately $21 million in the first year. While this may slightly reduce some regulatory efficiency in terms of data access and processing, regulators will still have access to the necessary data through alternative methods.