Next month was set to bring along the next phase of the long-expected Consolidated Audit Trail roll-out for Large Industry Members. However, a major announcement from Security and Exchanges Commission’s Division of Trading Markets (SEC) explains how CAT has been delayed due to the current COVID-19 pandemic hitting the globe.
The delay comes after FINRA, a securities market self-regulatory organization issued a “no-action” letter to the SEC. In the letter, FINRA explained that it would allow new flexibility in the current April deadlines for CAT reporting participants, moving them until mid-May (at a minimum) in reaction to the current uncertainties that COVID-19 has placed upon the market.
Please see below for the entire letter: