Industry members that must register for the CAT include:
- A member of FINRA or a national securities exchange that handles orders or quotes in NMS stocks, over-the-counter equity securities or exchange listed options; and
- A third-party CAT reporting agent that is or will be authorized to submit data to the CAT on behalf of an industry member.
The CAT rules do not provide for any firms to be excluded or exempted from the CAT reporting obligation.
All questions regarding CAT registration should be directed to the FINRA CAT Helpdesk at (888) 696-3348 or [email protected]
FINRA CEO Robert Cook warned broker-dealers at the self-regulator’s annual conference on May 15 that “CAT is coming.” For the broker-dealer industry, “the first wave of testing” will be coming later this year, he said. FINRA is now the CAT processor. Cook advised attendees to check out CAT’s progress at catnmsplan.com to see the “specs that firms should be working on.”