Under the Consolidated Audit Trail, or CAT, broker-dealers will be required to report every equity and options transaction, as well as certain personal information of retail and institutional clients, to a database operated by 24 SROs.SIFMA and its members are supportive of the CAT and its regulatory intent – however, we have repeatedly expressed strong concerns regarding the risks to customer information. Data security must be a paramount concern with a database this large.In this podcast, SIFMA president and CEO, Kenneth E. Bentsen, Jr. is joined by SIFMA’s Ellen Greene to discuss the risks posed by the CAT, who bears the liability in the event of a data breach and why reasonable access limits are needed now.For more information, visit www.sifma.org/consolidated-audit-trail