Exchanges and FINRA seek more time on consolidated audit trail

12/4/2012 | Bloomberg

The Financial Industry Regulatory Authority and stock and options market operators are planning to request more time from the Securities and Exchange Commission for submitting a plan for a consolidated audit trail. The exchanges and FINRA are supposed to submit the plan in April 2013, but they want to delay the deadline to December. "The delays that are being asked for are valid since it is a heavy lift with a lot of nuances and moving parts," said Edward Boyle, a former Getco executive. "If we don't allow the time for all participants to be ready, it will fall short and likely never be done properly." Learn more at SIFMA's Consolidated Audit Trail Resource Center.

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