About a-team Marketing Services
The knowledge platform for the financial technology industry

A-Team Insight Blogs

SEC Delays CAT Reporting Due to COVID-19 Concerns

Subscribe to our newsletter

The US Securities and Exchange Commission (SEC) has confirmed a delayed start for Consolidated Audit Trail (CAT) reporting, upon condition of compliance with certain other obligations, including milestones related to testing and releases of CAT functionality, as well as all other compliance dates for broker-dealer reporting to the CAT.

Although the original reporting deadline for Large Industry Members was due on 20th April, in March the Financial Industry Regulatory Authority (FINRA) issued a no-action letter to the SEC that essentially delayed the deadline until mid-May. The latest announcement from the SEC further extends that leeway until 22nd June, when initial equities reporting for large broker-dealers and small firms who currently report to the FINRA Order Audit Trail System (OATS) will come into force.

“In order to address the impact of COVID-19 while preserving progress toward existing milestones, the first exemptive order also allows for a delayed start to CAT reporting conditioned upon compliance with certain other obligations,” says an SEC spokesperson. “These obligations include milestones related to testing and releases of CAT functionality, as well as all other compliance dates for broker-dealer reporting to the CAT.”

Other CAT deadlines include 20th July 2020 for initial options reporting for large broker-dealers, 13th December 2021 for full equities and options reporting for all firms, and 11th July 2022 for full customer and account reporting.

UK-based data integration specialist Inforalgo, which offers a cloud-based service for CAT compliance, warns that while the news might come as a welcome relief as businesses work to stabilise under new working conditions, firms should not rest on their laurels, but use the time to address key COVID-19 considerations: including whether CAT reporting can be supported with employees working from home, whether current infrastructure can handle the diverse changes to the trading environments, and whether an outsourced or managed service solution might be beneficial in order to meet compliance requirements.

“We strongly advise firms to use this time to get ahead of the game and get their reporting solutions in order,” says the provider.

Subscribe to our newsletter

Related content

WEBINAR

Upcoming Webinar: Generative and Agentic AI in Financial Markets: What the Data Really Shows

Date: 15 October 2026 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes Artificial intelligence is reshaping financial markets – but the reality on the ground is more nuanced, more uneven, and more instructive than the headlines suggest. A new A-Team Insight research programme, drawing on responses from senior AI decision-makers at...

BLOG

15 Regulatory Transaction Reporting Leaders, Europe – (2026 Edition)

Transaction reporting in Europe is no longer a question of meeting submission deadlines – it is a question of evidencing control. Core regimes such as MiFIR and EMIR have been in force for several years, but supervisory focus has shifted decisively from completeness toward data quality, reconciliation, and traceability. The EMIR Refit go-live in April...

EVENT

Data Management Summit London

Now in its 16th year, the Data Management Summit (DMS) in London brings together the European capital markets enterprise data management community, to explore how data strategy is evolving to drive business outcomes and speed to market in changing times.

GUIDE

Regulatory Data Handbook 2026 – Fourteenth Edition

Welcome to the fourteenth edition of A-Team Group’s Regulatory Data Handbook. Supervisors increasingly expect firms to demonstrate which rules apply, which data supports each obligation, who owns the control and how exceptions are identified and resolved. Policies and implementation programmes must now be supported by records that can withstand regulatory scrutiny. This edition examines material...