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Citadel Securities Wins Case on SEC Audit Trail Funding
News July 28, 2025 at 11:12 AM
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What You Need To Know
- Citadel Securities and the American Securities Association claimed the allocations of costs for running the CAT were unfair.
- A federal appeals court in Atlanta invalidated the SEC’s funding plan for CAT as "arbitrary and capricious."
- The program, which Citadel called "Orwellian," was set to cost Wall Street billions of dollars in fees.
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