10 Jul 2025
💰Proposed CAT Fee Change and Its Impact on Industry Members
Self-Regulatory Organizations; MIAX Sapphire, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend the Fee Schedule 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 Securities and Exchange Commission announces a proposed rule change by MIAX Sapphire to amend fees for industry members linked to the National Market System Plan Governing the Consolidated Audit Trail. These changes affect the financial landscape for market participants through new cost assessments aimed at budgeted audit trail expenses from July to December 2025.
Agencies
- Securities and Exchange Commission
Business Impact
$$$ - High
The document outlines a proposed rule change regarding fees for industry members related to the costs of the Consolidated Audit Trail (CAT) for the latter half of 2025. Business owners and executives in the financial sector are directly impacted by these fees, as they represent additional operational costs for compliance with regulatory requirements.