United States:
FINRA Proposes Elimination Of OATS Rules In Transition To CAT
15 August 2020
Cadwalader, Wickersham & Taft LLP
To print this article, all you need is to be registered or login on Mondaq.com.
FINRA proposed to eliminate Order Audit Trail System
("OATS") rules once member firms begin reporting to the
Consolidated Audit Trail ("CAT"). Under the proposal,
FINRA would remove the Rule 7400 Series ("Order Audit Trail
System") and Rule 4544 ("Alternative Trading Systems -
Recording and Reporting Requirements of Order and Execution
Information for NMS Stocks").
The rule change would become effective upon approval from by the
SEC. The change would be implemented when FINRA determines that
thresholds for CAT accuracy and reliability have been met.
Primary Sources
- FINRA Rule Filing SR-FINRA-2020-024
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
POPULAR ARTICLES ON: Accounting and Audit from United States
Recent PCAOB "Sweeps" Pressure Audit Committees
Mayer Brown
As the regulator of public company auditors, following the Sarbanes-Oxley Act of 2002, the Public Company Accounting Oversight Board (PCAOB) aims to safeguard investors' interests.
The Importance Of Forensic Accounting In 2024
Bennett Thrasher
Forensic accounting is a specialized field within accounting that involves the utilization of investigative techniques to uncover financial discrepancies, fraud, or other irregularities...