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MFA comments on SEC’s CAT plan proposal

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Managed Funds Association President and CEO Richard H Baker has released a statement after the Securities and Exchange Commission voted to issue for public comment a proposal for the creation of a consolidated audit trail designed to gather increased information for regulators to conduct research, reconstruct market events and monitor market activities.

“MFA and MFA Members support the overall objectives of a consolidated audit trail as a way to enhance regulators’ ability to oversee our modern markets,” says Baker. “However, implementing a system to track this unprecedented level of customer and trading data must be done in a cost-effective manner.
 
“Moreover, as recent cyber incidents remind us, it is equally critical that regulators develop and invest in safeguarding the data they are collecting. Protecting customer data is paramount for investors’ market confidence.”

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