The SEC's Consolidated Audit Trail: A Primer

Thursday, February 22, 2018 • 4:00 PM • Law School 4045Duke Law Events

On May 6, 2010, the Dow Jones Industrial Average dropped 9% in mere minutes - the biggest intraday drop in the Index's history. This "Flash Crash", opened the eyes of regulators to the reality that they had little insight into who was doing what in the trading markets. In fact, it took four and a half months for the regulators to publish a report as to why the crash occurred. Realizing its inability to provide answers, the SEC proposed the Consolidated Audit Trail (CAT) soon after the crash. After seven years in development and implementation, the exchanges are on the verge of starting to report information to the system that has been developed. Join us as Robert Walley from Deloitte and Tyler Gellasch from Healthy Markets, discuss the CAT's development and ongoing controversies. Lunch will be provided. Sponsored by the Global Financial Markets Center. For more information contact reiners@law.duke.edu.

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