Here’s a good idea: Plan for life events, whether expected or unexpected. That’s the helpful word from FINRA, the broker-dealer sector’s own regulatory authority. “Succession planning can benefit customers, member firms and registered representatives,” the regulatory authority declares in its recent Regulatory Notice 22-23, which “discusses these benefits, as well as common types of succession… Read More >>
CAT Overseers Shift Key Deadline for Broker-Dealers
A new deadline has been set for a key aspect of the ambitious, big data, securities transaction monitoring project known as the Consolidated Audit Trail (CAT). The new deadline is intended to help broker-dealers grappling with the inclusion of information about customer accounts, and the deadline extension will give CAT participants more time to deal… Read More >>
Pandemic Overshadows CAT Reporting Milestone
Broker-dealers can start reporting their securities transaction order data to the big data market surveillance project known as the Consolidated Audit Trail (CAT), but this milestone has been overshadowed by the COVID-19 pandemic. The CAT Operating Committee officially announced earlier this week that the CAT data repository is live for broker-dealer reporting. In addition, securities… Read More >>
SEC’s CAT Advances Despite Calls for a Delay
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 Extends Pilot to Limit Market Volatility
The SEC has issued an order extending the pilot period of a key initiative under the Regulation National Market System (Reg NMS) plan for one year. Known as the limit up-limit down (LULD) mechanism, it was first formulated in 2012 to address today’s extraordinary, often technology-mediated market volatility. The LULD pilot is meant to control… Read More >>
