A CAT Delay Probably a Done Deal

On October 11, the House Financial Services Committee overwhelmingly approved H.R. 3973, better known as The Market Data Protection Act of 2017. The vote to move the bill out of the committee fell one vote shy of being unanimous. The bill requires Thesys CAT, the operator of the Consolidated Audit Trail, to develop a comprehensive…

Getting the Blockchain Blues

I spent the first part of this week attending CoinDesk’s Consensus 2016 blockchain conference in Midtown Manhattan. It was a great event with good content and a huge audience. However, now I’m having a post-blockchain crash. (It’s like the crash after a sugar high, but more forgiving on the teeth and waistline.) Yes, blockchain will change…

CAT Numbers are Out of Whack

After four years of waiting for the self-regulatory organizations to submit their plan for the Consolidated Audit Trail, the Securities and Exchange Commission unanimously approved to release it for comment. In the next few days, the plan will appear in the Federal Register and the SEC will have 180 days from then to select a…