The SEC has extended the review period for a proposed amendment to the Consolidated Audit Trail governing reporting requirements. Designed to include more verbal and floor activity, this amendment aims to enhance oversight within the National Market System Plan. The Commission is allowing additional time to assess policy issues and comments related to the proposal.
The CAIS Amendment proposes significant changes to the National Market System Plan by eliminating the requirement for reporting certain customer information, including names, addresses, and years of birth. This amendment aims to enhance data security while achieving substantial cost savings, estimated at $12 million annually, for participating organizations in the securities industry.