SEC Issues Order to Reduce Operating Costs of Consolidated Audit Trail

The Securities and Exchange Commission (SEC) has issued an order granting conditional exemptive relief related to certain requirements of the National Market System Plan governing the Consolidated Audit Trail (CAT NMS Plan), Rule 613 of Regulation NMS, and other related rules.

What's Happening?

The SEC's order aims to reduce operating costs associated with the CAT, which is a comprehensive audit trail for equities trading in the US. The relief granted by the SEC is conditional, meaning that the parties involved must adhere to specific requirements and report back to the Commission within 30 days.

Why It Matters

The reduction of operating costs related to the CAT is a significant development for market participants, particularly brokers and trading firms. The relief granted by the SEC will help alleviate some of the burdens associated with implementing and maintaining the CAT, allowing these parties to redirect resources towards other areas.

Risk Assessment

• **Risk Level:** High
• **Credibility:** High
• **Warning for Readers:** U.S. retail investors should be aware of potential changes in market regulations affecting their investments.

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