(Sep 14) Finishing the consolidated audit trail is the top market-structure focus of the Securities and Exchange Commission for the rest of 2016, Chairman Mary Jo White said at an industry conference in Washington. The CAT is designed to be a vast central data repository for equity orders, provided by brokers and exchanges. It was formulated by the Financial Industry Regulatory Authority (FINRA) and national securities exchanges and released by the SEC in April. The agency also plans action in the coming months on new disclosures for dark pool operators, a pilot program for lowering access fees and rebates on exchanges, and an anti-disruptive trading rule.
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