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Consolidated Audit Trail

All articles tagged with #consolidated audit trail

finance2 years ago•2 min saved

SEC's Portfolio Surveillance Raises Privacy Concerns

The Securities and Exchange Commission (SEC) has implemented a new rule requiring the tracking of stock trades by Social Security Numbers, sharing the data with 3,000 outside agencies. The rule, known as the Consolidated Audit Trail (CAT), was issued in response to the 2010 flash crash but has raised concerns about privacy and cybersecurity. Critics argue that the collection of personally identifiable information, such as account and Social Security numbers, poses a risk of exploitation by hackers. Some lawmakers have introduced legislation to halt the collection of personal information by the CAT, emphasizing the need to safeguard Americans' privacy.

via Mish Talk|

#consolidated-audit-trail #cybersecurity #finance

finance2 years ago•1 min saved

SEC Implements Funding Changes for Audit-Trail System, Shifting Costs to Brokers and Investors

The Securities and Exchange Commission (SEC) has approved an amendment to the National Market System Plan governing the Consolidated Audit Trail (CAT), adopting a revised funding model called the "Executed Share Model." This amendment establishes a fee schedule for CAT fees for self-regulatory organizations participating in the CAT NMS Plan. The approved framework allows plan participants to recover costs associated with building and operating the CAT, including the allocation of costs among participants and members of national securities exchanges or associations. The participants will submit filings to impose fees on industry members, with details of the fees and budgeted CAT costs provided in those filings.

via SEC.gov|

#cat-fees #consolidated-audit-trail #executed-share-model