FINRA's proposal to update its manual to reflect a new FINRA subsidiary, FINRA CAT, LLC, was published in the Federal Register. FINRA CAT, LLC is a new entity designed to further FINRA's compliance "with respect to the creation, operation and maintenance of a central [customer and order data] repository."
As previously covered, the proposal would:
- codify the delegation of certain responsibilities and functions to FINRA CAT, LLC under the "Plan of Allocation and Delegation of Functions by FINRA";
- make conforming amendments to the Delegation Plan to provide for FINRA CAT, LLC; and
- make conforming amendments to the By-Laws of FINRA Regulation, Inc. and to the FINRA Rules.
Comments on the proposal must be submitted by May 29, 2019.
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