Two legacy enforcement efforts of the U.S. Securities and Exchange Commission (SEC) — the Public Company Accounting Oversight Board (PCAOB) and the Consolidated Audit Trail (CAT) — have survived to fight another day, but they haven’t escaped the ongoing scrutiny of SEC Chairman Paul Atkins. In recent testimony before the U.S. Senate Committee on Banking,… Read More >>
FINRA Is Closely Watching for Inaccurate CAT Reporting
The controversial Consolidated Audit Trail (CAT), which has already been fending off lawsuits and industry pushback, has had “instances of millions if not billions of late or inaccurately reported order events,” says Bill St. Louis, executive vice president and head of enforcement at the Financial Industry Regulatory Authority (FINRA). The need to stay on top… Read More >>
Thesys Out as Plan Processor for CAT Project
The ambitious consolidated audit trail (CAT) industry project has suddenly moved into a new chapter with the revelation late last week that Thesys Technologies, acting as Thesys CAT, will be phased out as the plan processor for the SEC-mandated big data initiative. A transition is underway to designate a new plan processor to collect every… Read More >>
