Industry Adds Voice to Calls for CAT Delay

Confidence in the wide-ranging project has been dented by recent cybersecurity incidents.

SEC chair Jay Clayton is asking the industry to rethink the kind of CAT data needed.

Ronald Kruszewski, chairman and CEO of Stifel Financial, expressed concern that the consolidated audit trail (CAT) will act as a large target for hackers. He spoke at the Securities Industry and Financial Markets Association’s (Sifma’s) annual meeting, held in Washington, DC, on October 23 and 24.

“I wasn’t 100 percent behind the CAT but I certainly believed that using technology to understand market events was appropriate. But today, we need to stop this thought process of putting that data in

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