SEC Democratic Commissioner Slams CAT Delays

Robert Jackson dissented from a new proposed order to modernize exchange data.


On Wednesday, the Securities and Exchange Commission’s Robert Jackson slammed the lack of progress in building the Consolidated Audit Tape (CAT) as he dissented from a new proposal to modernize the National Market System (NMS).

“Our history governing markets through NMS plans is hardly encouraging. One need look no further than the Consolidated Audit Trail to see what happens when the Commission replaces real regulations with mere hope that stock exchanges will act against their own interests,”

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