top of page
  • Writer's pictureASA Newsroom

ASA Welcomes SEC Order Delaying CAT Provisions

WASHINGTON - The American Securities Association (ASA) today welcomed an U.S. Securities and Exchange (SEC) order granting temporary exemptive relief from certain requirements of the consolidated audit trail (“CAT”), delaying implementation—scheduled for this month—until 2024.

“While we welcome the delay, the SEC must reconsider concentrating all of the personal and financial information of every American investor in a centralized database,” ASA CEO Chris Iacovella said. “CAT is, and will remain, incredibly vulnerable to hackers and state sponsors of espionage like Russia and China, which makes it one of the most important investor protection issues the SEC faces. We join Commissioner Peirce in calling on the SEC to end CAT’s risks to individual liberty and our national security."

Last month, all Republican members of the Senate Appropriations Subcommittee on Financial Services and General Government (FSGG), which has jurisdiction over the Securities and Exchange Commission (SEC), sent a letter raising concerns about the privacy and national security threats CAT presents.


ASA’s regional financial services companies work in communities across the country to create jobs, grow the economy, and increase prosperity for all Americans. The ASA exclusively represents the capital market and private client interests of its members and seeks to promote free market principles making it easier to access financial advice and capital. ASA members help Americans save for retirement, provide Main Street businesses with capital to grow, and advise hardworking Americans how to create and preserve wealth. For the latest updates follow @AmerSecurities and learn more at


bottom of page