CAT – Concerns Remain About Investor Data Security Ahead of Testing
Under the Consolidated Audit Trail, or CAT, broker-dealers will be required to report every equity and options transaction, as well as certain personal information of retail and institutional clients, to a database operated by 24 SROs.SIFMA and its members are supportive of the CAT and its regulatory intent – however, we have repeatedly expressed strong concerns regarding the risks to customer information. Data security must be a paramount concern with a database this large.In this podcast, SIFMA president and CEO, Kenneth E. Bentsen, Jr. is joined by SIFMA’s Ellen Greene to discuss the risks…
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