Tuesday, July 23, 2024

 How Trump's Project 2025 will affect investors: Consolidated Audit Trail 

From page 831:
Terminate the Consolidated Audit Trail (CAT) program.

From the SEC:  

Rule 613 (Consolidated Audit Trail)

The Commission adopted Rule 613 to create a comprehensive consolidated audit trail that would allow regulators to efficiently and accurately track all activity throughout the U.S. markets in National Market System (NMS) securities. Among other things, the rule requires the self-regulatory organizations (SROs) to jointly submit a plan – called an NMS plan – to create, implement and maintain a consolidated audit trail. The rule specifies the type of data to be collected and when the data is to be reported to a central repository.

Clearly the CAT program enables auditors to determine what is actually going on in a company. Given his many bankruptcies it is not difficult to understand why Trump and the people around him would not like this program, but it is a good thing for investors. 


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