FINRA Highlights Recent CAT Regulatory Coordination

FINRA highlighted recent "regulatory coordination efforts" on Consolidated Audit Trail ("CAT") compliance rules.

FINRA explained that CAT NMS Plan Participants entered into an SEA Rule 17d-2 Plan and corresponding Regulatory Services Agreements (RSAs) to coordinate regulation of the CAT compliance rules through FINRA. FINRA also stated that the participants have "developed a coordinated approach for enforcement of the CAT compliance rules under the Participants' respective Minor Rule Violation Plans" ("MRVPs") so that the framework for the application of MRVPs to CAT compliance rules is "harmonized" and consistent with FINRA's approach to the enforcement of Order Audit Trail System rules.

Primary Sources

1. FINRA Regulatory Notice 20-20: Consolidated Audit Trail - FINRA Provides Updates on Regulatory Coordination concerning CAT Reporting Compliance

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