11 Jul 2025
💰SEC Proposed CAT Fees 2025-2 Impact on Industry Members
Self-Regulatory Organizations; Investors Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Establish Fees for Industry Members Related to Reasonably Budgeted Costs of the National Market System Plan Governing the Consolidated Audit Trail for the Period From July 1, 2025 Through December 31, 2025
Summary
The SEC has published a notice regarding the proposed CAT Fee 2025-2, which aims to establish fees to cover costs for the National Market System plan governing the Consolidated Audit Trail. This fee implementation will require compliance from Industry Members within the securities sector for effective operation and cost recovery.
Agencies
- Securities and Exchange Commission
Business Impact
The proposed rule change introduces CAT Fee 2025-2, imposing fees on Industry Members to fund the Consolidated Audit Trail costs for the second half of 2025. This impacts budgets and compliance requirements for businesses in the securities industry due to new ongoing costs.