SEC published joint industry plan for Firm Designated ID

June 17, 2020 – SEC published a notice seeking comments on a proposed amendment to the CAT NMS Plan to revise data reporting requirements for Firm Designated ID. This joint industry plan was submitted by the operating committee for Consolidated Audit Trail, LLC, on behalf of multiple agencies, the participants to the CAT NMS Plan. Participants propose to amend requirements for firm designated IDs in four ways.

Proposed Amendments

Prohibit the use of account numbers as firm designated IDs for trading accounts that are
not proprietary accounts, use could give rise to security risks related to CAT Data.
Require trading account firm designated IDs be persistent over time for each industry member so a single account may be tracked across time within a single industry member. Permit the use of relationship identifiers as firm designated IDs in certain circumstances. Also, permit the use of entity identifiers as firm designated IDs in certain circumstances.

Effectiveness

On April 14, 2020, the Operating committee for CAT filed the proposed amendment with SEC.
On June 11, 2020, SEC initially published a notice of amendment filling, seek comments. On June 14, 2020, SEC published a joint notice of amendment filing in Federal Register. Comments should refer to file number 4-698 and be submitted on by July 8, 2020.

For more information, visit www.federalregister.gov



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