SEC Seeks Public Comment on the Consolidated Audit Trail and Other Audit Trails and Data Sources

The Securities and Exchange Commission today issued a concept release soliciting public comment in support of a comprehensive review of the Consolidated Audit Trail (CAT) and other audit trails and related data sources currently used in the regulation of U.S. securities markets. The concept release seeks comment on topics including, but not limited to, CAT funding and cost management, the regulatory purpose of the CAT, the structure and governance of the CAT, the design and scope of the CAT, and the cybersecurity and data privacy of the CAT and other audit trails and related data sources, as well as comments regarding the appropriate balance between privacy and confidentiality considerations, civil liberties protections, and regulatory need. “Under my leadership, the Commission has made meaningful progress to reform the CAT and strike a better balance between regulatory use, costs, funding, and security considerations,” said SEC Chairman Paul S.