CAT might not have nine lives after Eleventh Circuit rules against funding model
An appeals court struck down the SEC's funding plan for its Consolidated Audit Trail in a decision that adds pressure on the SEC.
The funding model of the consolidated audit trail (CAT), an SEC database for all equity and options trades on US exchanges, has been struck down by the Eleventh US Circuit Court of Appeals.
The decision rescinds an SEC rule that its critics contended would have compelled America’s broker-dealers to pay