SEC Approves Amendment to NMS Plan to Further Reduce the Costs of the Consolidated Audit Trail

The Securities and Exchange Commission today approved an amendment to the National Market System Plan governing the Consolidated Audit Trail (“CAT”) and provided exemptive relief from certain requirements of Rule 17a-1 under the Securities Exchange Act of 1934 to allow for the implementation of various cost savings measures designed to meaningfully reduce the costs of the CAT while maintaining core regulatory functionality. “After a decade of increasing costs, today’s amendment builds on last year’s progress towards a more efficient and cost-effective CAT. It is a step in the right direction, but there are still many more steps to be taken,” said SEC Chairman Paul S.