7 May 2025
⏱️SEC Grants Temporary Exemptive Relief on Timestamp Granularity
Order Granting Temporary Conditional Exemptive Relief, Pursuant to Section 36 of the Securities Exchange Act of 1934 and Rule 608(e) of Regulation NMS Under the Exchange Act, Relating to Granularity of Timestamps Specified in Section 6.8(b) and Section 3 of Appendix D of the National Market System Plan Governing the Consolidated Audit Trail
Summary
The SEC has granted temporary conditional exemptive relief to Participants from certain timestamp granularity requirements under the CAT NMS Plan. This relief is aimed at reducing compliance costs and maintaining market integrity while ensuring adequate regulatory data sequencing, reflecting current industry practices.
Agencies
- Securities and Exchange Commission
Business Impact
$$$ - High
The regulatory document discusses granting temporary conditional exemptive relief from timestamp requirements for reporting CAT data, affecting compliance and operational costs for Participants. This will save businesses from incurring significant re-engineering costs estimated at $900,000 to $1.1 million, which is relevant for business owners and executives in the securities industry.