SIFMA today issued the following statement from Kenneth E. Bentsen, Jr., SIFMA president and CEO, on the concept release issued by the Securities and Exchange Commission soliciting public comment in support of a comprehensive review of the Consolidated Audit Trail (CAT):
“SIFMA welcomes the concept release the Securities and Exchange Commission (SEC) published today soliciting public input to assist the SEC’s comprehensive review of the Consolidated Audit Trail (CAT). We have long called for a public review of the CAT which would address, among other topics, the costs of the CAT, its governance and funding, and the scope and security of the data held within the CAT. SIFMA has previously made in-depth recommendations which would lead to a more efficient and cost-effective CAT without compromising its intended regulatory purpose, and we look forward to further commenting on today’s concept release and engaging further with the SEC on this issue.”
