Dissent over SEC changes to CAT funding scheme
SEC amendment to National market System Plan draws criticism from industry groups and divides commissioners.
The US SEC has approved an amendment to the National Market System Plan (NMS Plan) governing the Consolidated Audit Trail, or CAT, to adopt a revised funding model, called the Executed Share Model.
The SEC’s plan also establishes a schedule for CAT fees for the self-regulatory organizations that participate in the CAT NMS