ARTICLE
15 March 2017

SEC Grants Limited Exemptive Relief From CAT NMS Plan Clock Synchronization Requirements

CW
Cadwalader, Wickersham & Taft LLP

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Cadwalader, established in 1792, serves a diverse client base, including many of the world's leading financial institutions, funds and corporations. With offices in the United States and Europe, Cadwalader offers legal representation in antitrust, banking, corporate finance, corporate governance, executive compensation, financial restructuring, intellectual property, litigation, mergers and acquisitions, private equity, private wealth, real estate, regulation, securitization, structured finance, tax and white collar defense.
The SEC granted limited exemptive relief from the National Market System Plan governing the Consolidated Audit Trail ("CAT NMS Plan") clock synchronization compliance deadline.
United States Corporate/Commercial Law
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The SEC granted limited exemptive relief from the National Market System Plan governing the Consolidated Audit Trail ("CAT NMS Plan") clock synchronization compliance deadline. The relief extends the compliance deadline from March 15, 2017 to February 19, 2018 for those Industry Members with business clocks that do not capture time in milliseconds as of the date of the SEC's order (i.e., March 2, 2017).

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