SEC on Course to Fix ‘Worst Executed’ Audit Trail, Clayton Says

A massive market-surveillance database that safeguards personal information is on a path toward completion after years of delays, according to SEC Chairman Jay Clayton.

The Securities and Exchange Commission is moving “full steam ahead” to get the Consolidated Audit Trail done and resolve concerns about the collection of personal information and other issues by 2022, Clayton said Nov. 19 in Washington.

The SEC has received calls from Congress, brokers, and stock exchanges to keep some personal information out of the database, also known as the CAT. The exchanges and the Financial Industry Regulatory Authority, which are creating the CAT at ...