United States:
FINRA Highlights Recent CAT Regulatory Coordination
06 July 2020
Cadwalader, Wickersham & Taft LLP
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FINRA highlighted recent "regulatory
coordination efforts" on Consolidated Audit Trail
("CAT") compliance rules.
FINRA explained that CAT NMS Plan Participants entered into an
SEA Rule
17d-2 Plan and corresponding Regulatory Services Agreements
(RSAs) to coordinate regulation of the CAT compliance rules through
FINRA. FINRA also stated that the participants have "developed
a coordinated approach for enforcement of the CAT compliance rules
under the Participants' respective Minor Rule Violation
Plans" ("MRVPs") so that the framework for the
application of MRVPs to CAT compliance rules is
"harmonized" and consistent with FINRA's approach to
the enforcement of Order Audit Trail System rules.
Primary Sources
- FINRA Regulatory Notice 20-20: Consolidated Audit
Trail - FINRA Provides Updates on Regulatory Coordination
concerning CAT Reporting Compliance
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