The controversial Consolidated Audit Trail (CAT) surveillance system and database of the SEC is moving ahead despite requests by major self-regulatory organizations (SROs) and industry groups that the effort be delayed because of concerns over cybersecurity and the deadline schedule. Last week, SEC Chairman Jay Clayton underscored the regulator’s need to stay on track with… Read More >>
SEC Pushing for Consolidated Audit Trail
The SEC voted late last month to move ahead with the final phase of the consolidated audit trail (CAT) project, part of a proposed national market system (NMS) plan to “create a single, comprehensive database that would enable regulators to efficiently track all trading activity in the U.S. equity and options market,” officials say. The… Read More >>
SEC Pushes to Shed Light on Dark Pool Operations
The SEC has voted to propose new operational-transparency and regulatory-oversight rules for alternative trading systems that trade stocks listed on a national securities exchange (NMS stocks), including “dark pools.” So-called dark pools of liquidity, on private exchanges not available to the general public, have not — at least until now — been transparent, by definition…. Read More >>
