Killing the CAT: why a key regulatory tool is under attack from Wall Street

November 15, 2024 – Financial Times – In an exclusive story about what killing the Consolidated Audit trail would mean for the markets, HMA President & CEO Tyler Gellasch is quoted throughout the article saying
“Gellasch says suspending CAT would send US market surveillance capability back to the 1970s, even though trading decisions are now made in nanoseconds and there are many more of them. “Whether killed by courts or Congress, killing CAT means blocking regulators’ ability to know who’s doing what in our capital markets. That risk is unprecedented.” (Full Story).