SEC Announces Phased CAT Reporting Timelines

The SEC has issued two exemption orders that establish timelines for implementation of the Consolidated Audit Trail (CAT). Specifically, in response to the impact of COVID-19, the first exemption order allows for a “delayed start to CAT reporting conditioned upon compliance with certain other obligations.” The second exemption order provides “exemptive relief permitting these firms to follow the CAT reporting timeline applicable to small broker-dealers.”

For more information, see the press release on the SEC’s Web site.