Analysis

SEC’s Clayton Tightens Leash On Further Audit Trail Delays

Law360, New York (November 15, 2017, 10:11 PM EST) -- The chairman of the U.S. Securities and Exchange Commission this week showed he’s not afraid of crossing powerful interests on Wall Street when he denied a last-minute plea by the nation’s stock exchange operators to yet again delay the launch of the consolidated audit trail.

On Tuesday night, Jay Clayton announced in a statement he was refusing a late request by the self-regulatory organizations that run the exchanges to push off looming deadlines for the so-called CAT, a long-in-the-works project intended to help regulators better police...
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