News | 03.25.20
SEC Delays CAT Deadline so Firms Can Focus on Business Continuity
The Securities and Exchange Commission (SEC) has announced in a no-action letter that it will not enforce a consolidated audit trail (CAT) implementation deadline on April 20. However, the regulator warned that a May 20 deadline could be extended. The deadline would have required broker-dealers to submit data to the CAT on trades they complete for clients. Brett Redfearn, the SEC's trading and markets division director, said, "To allow firms to maintain focus on operational readiness and reduce operational risk, we are issuing this no-action letter so that personnel who are working on CAT matters but are important to maintaining critical operations and implementing business continuity plans can focus their attention on those immediate needs."
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