Thomas A. Sporkin Quoted in Law360 Article, “SEC’s Clayton Tightens Leash On Further Audit Trail Delays”
Law360Thomas A. Sporkin
Thomas A. Sporkin was quoted on November 15, 2017 in a Law360 article, “SEC’s Clayton Tightens Leash On Further Audit Trail Delays,” which discussed SEC Chairman Jay Clayton’s decision to deny a last minute request to delay the launch of the consolidated audit trail (CAT). The article stated, “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 the markets against manipulation and avoid a repeat of the 2010 flash crash. The CAT has been hailed by some as a game-changing development for Wall Street regulators, as it would replace the current, limited market surveillance tools with a single system offering an almost panoramic view of market activity taking place in real time.”
Sporkin noted, “Right now, you’ve got the Model T. This is the flying car. It’s the vehicle that is going to allow the market to continue to evolve at a lightning pace.”
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