Regulators Provide CAT Reporting Focus

In the past few weeks, the industry has been given additional guidance on how CAT reporting will be monitored by the regulatory body and the SROs. We were introduced to a new acronym, CMRWG, which is the Cross-Market Regulation Working Group. The CMRWG was recently formed to reduce unnecessary duplication in enforcement efforts. SROs have… READ MORE

CAT Goes Live – Where Are We Now?

Oyster Consulting attended a webinar on June 6, 2020 hosted by SIFMA entitled “CAT Goes Live,” which included industry panelists from the SEC, FINRA CAT LLC, clearing firms and broker-dealers. This diverse panel conducted significant discussions about the impending compliance dates for Phase 2a and 2b for Consolidated Audit Trail (CAT) reporting.  Most industry members… READ MORE

SIFMA and SROs Settle on CAT Reporter Agreement

In a surprising announcement, SIFMA and the Self-Regulatory Organizations (SROs) have reached a settlement on the Consolidated Audit Trail (CAT) Reporter Agreement.  This comes after SIFMA issued a statement last week from Industry Members in support of their accusation of improper SRO action based on Section 19(d) of the Securities Exchange Act of 1934.  Within… READ MORE

CAT Implementation Delayed Due to COVID 19

On March 16, 2020 the SEC announced no-action relief to allow Participants to delay the implementation of Consolidated Audit Trail (CAT) until May 20, 2020.  This announcement comes as the industry deals with disruptions as a result of COVID-19, and members have to make difficult prioritization decisions around staff required to implement CAT.  Market volatility… READ MORE

New Podcast: 2020 Exam Priorities, Part 3

This week’s episode of Oyster Stew is Part 3 in a series discussing the SEC and FINRA 2020 Exam Priorities Letters.  Oyster Consulting CEO Buddy Doyle, Director Evan Rosser and Consultant Joe Turner talk about Technology and Cybersecurity, Business Continuity Plans, Cash Management and Bank Sweeps. Oyster provides free resources such as podcasts and blogs, as well a… READ MORE

CAT Connectivity Deadlines – Establish Connectivity Methods and Be Ready for Testing

FINRA CAT, LLC hosted two industry webinars concerning CAT Connectivity on August 29th and September 26th, 2019 which provided a summary of CAT interfaces and connectivity methods.  Three connection methods for file submittal were outlined for Industry Members (IMs). Private Line provided by a Managed Network Service Provider (MNSP) After an industry RFP, CenturyLink was… READ MORE

Crypto Evolved – The Innovator’s Conference

Oyster’s Evan Rosser, Terry Schafer and Michael Segal are attending the Crypto-Evolved Conference in New York, June 25th, 2019.  “Crypto Evolved is the only industry conference dedicated to the development of the institutional digital-asset market. Through a high-quality agenda focused on key issues impacting capital markets, Crypto Evolved will attract senior representatives from traditional Wall… READ MORE