What is consolidated audit trail reporting?

What is consolidated audit trail reporting?

The Consolidated Audit Trail (CAT) is a regulatory reporting utility commissioned by the Securities and Exchange Commission (SEC) to enable regulators to more fully track trading activity and boost transparency; the CAT also heralds significant new obligations and reporting requirements for firms.

What is the consolidated audit trail system?

The Consolidated Audit Trail tracks orders throughout their life cycle and identifies the broker-dealers handling them, thus allowing regulators to efficiently track activity in Eligible Securities throughout the U.S. markets.

What is cat reporting finra?

The Consolidated Audit Trail (CAT) section of the 2022 Report on FINRA’s Risk Monitoring and Examination Activities (the Report) informs member firms’ compliance programs by providing annual insights from FINRA’s ongoing regulatory operations, including (1) relevant regulatory obligations and related considerations, (2 …

What is finra cat CAIS?

The CAT Customer & Account Information System (CAIS) is a separate system for submission of customer and account data and is scheduled to go live in two phases. Phase 1 – April 2021 – CAT reporter firm must report account and LTID data associated with an FDID.

What is cat NMS plan?

The Securities and Exchange Commission today voted to adopt amendments to the national market system plan governing the consolidated audit trail (the “CAT NMS Plan”) to bring additional transparency, governance, oversight, and financial accountability to its implementation.

What is CAT and oat?

The CAT is a regulatory reporting tool commissioned by the SEC and being developed by FINRA. OATS includes order, quote, and trade information for all NMS stocks and OTC equity securities. CAT includes all equities and options data and will ultimately include more granular firm and customer data.

What is cat Phase 2e?

Phase 2e (Full CAIS) has a compliance date of July 11, 2022. At the end of January 2022, FINRA CAT will open the CAIS test environment. Firms are encouraged to take advantage of this testing window with a goal of transitioning their data schema to the Full CAIS version in late April of 2022.

What is a cat audit?

The SEC established the Consolidated Audit Trail (the CAT) to enable regulators to track all order and trading activity throughout the U.S. markets for listed equities and options.

What is a Reg NMS security?

Regulation National Market System (or Reg NMS) is a US financial regulation promulgated and described by the United States Securities and Exchange Commission (SEC) as “a series of initiatives designed to modernize and strengthen the National Market System for equity securities”.

When did finra cat go live?

CAT registration commenced on March 18, 2019, and will run through June 27, 2019. All Industry Members, as defined under the CAT NMS Plan, that will have a CAT reporting obligation must register during this window.

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