🔒SEC Grants Exemptive Relief for Customer Data Reporting Requirements
Order Granting Exemptive Relief, Pursuant to Section 36(a)(1) and Rule 608(e) of the Securities Exchange Act of 1934, From Certain Provisions of Section 6.4(d)(ii)(C) and Appendix D, Sections 9.1, 9.2 and 9.4 of the National Market System Plan Governing the Consolidated Audit Trail
Summary
The SEC has issued an order granting exemptive relief from certain reporting requirements under the CAT NMS Plan, specifically for names, addresses, and years of birth associated with transformed SSNs or ITINs. This decision aims to balance regulatory objectives with privacy concerns, enhancing data protection while retaining essential regulatory tools.
Agencies
- Securities and Exchange Commission
Business Impact
$$ - Med
The text describes regulatory changes granting exemptive relief from specific data reporting requirements for natural persons under the CAT NMS Plan. These changes can reduce compliance burdens and risks related to personally identifiable information (PII) for businesses involved in securities trading, allowing them to focus on current requirements without the burden of additional data collection.