04.06.2017

Would CAT Pass Trump’s EO?

Taking Stock

brought to you by JonesTrading

 

Would CAT Pass Trump’s EO?

by Jim Toes, STA

James Toes - President & CEO, STA

Jim Toes, Security Traders Association

Most agree with the saying, “timing is everything,” especially traders who know that being too early on a trade can hurt a P&L just as much as being wrong.

Regarding President Trump’s Executive Order 13771 Reducing Regulation and Controlling Regulatory Costs, which requires government agencies to repeal two regulations for each new one enacted, there are people in our industry who wish it was enacted before the words Consolidated Audit Trail, or CAT, were ever spoken. Further, there are many in that camp who would wager that CAT, with its extensive reporting requirements, would never have passed EO 13771.

In an interesting article written by Tom Jordan, President of Jordan & Jordan, a strong case is made that CAT would have passed the “2-for-1” mandate and been allowed to proceed. While there are some caveats in Mr. Jordan’s piece, I encourage the read for all in our industry. Full Article here

Related articles

  1. Esma Holds Firm on Double-Sided Reporting

    Clients can have formatted and accurate CAT reports automatically produced over S3 RegTech platform.

  2. Consolidated Audit Trail is now open for reporting by broker-dealers.

  3. Presidential hopeful goes after Wall Street with financial plan.

  4. Value of the initiative will depend on quality of the data.

  5. Latest News

    CAT Specs Steam Ahead

    CAT NMS targets an April 29 release date for its final specification.