Regulatory Alerts2026-03-27
SEC Approves Amendment to NMS Plan to Further Reduce Costs of the Consolidated Audit Trail
The Securities and Exchange Commission approved an amendment to the National Market System Plan governing the Consolidated Audit Trail, granting exemptive relief to implement cost-saving measures while preserving core regulatory functions. The updated framework enables plan participants to delete data older than three years, relax processing deadlines, implement a spending cap, and cease several reporting requirements. The Commission estimates these changes will generate between $50 million and $70 million in annual savings compared to the 2025 budget, with an additional $19.4 million to $24.1 million in incremental savings.
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