The securities industry may have to disclose its efforts to meet deadlines related to a massive market-surveillance database that is behind schedule, according to the SEC.
Stock exchanges would have to file quarterly progress reports about how they and brokers are working to comply with the requirements under the Consolidated Audit Trail, along with an implementation plan, according to a Securities and Exchange Commission proposal released Sept. 9.
The database, also known as the CAT, was supposed to start receiving data from large brokers in November 2018. The SEC’s proposal would now give them until April 2020 to begin sending ...
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