• SIFMA issued letter to the SEC to request an extension of the compliance date for certain obligations of broker-dealers reporting to the Consolidated audit trail (CAT).
• Follows February 2025 SEC temporary exemption from short selling report.
• Document dated 5 June 2025, received from SIFMA 23 June, summarized on 25 June.

Reporting Compliance Date Extension

• Letter requested an extension of the 1 July 2025 compliance date for certain obligations of broker-dealers reporting to Consolidated audit trail for at least one year.
• Specifically, requested deferral of requirement to include flag in CAT reports indicating whether short sale order was executed in reliance on exception to locate requirement.
• For bona fide market making activity under Regulation SHO, 17 CFR 242.203(b)(2)(iii).
• In light of SEC comprehensive review of scope of information required to be reported to CAT, and one-year extension of compliance date for Rule 13f-2 (17 CFR 240.13f-2).
• Also in light of the recent attempts to alter the scope of what constitutes bona-fide market making activity for purposes of the exception to the locate requirement.
• Urges the Commission to extend the compliance date of the requirement to apply the BFMM flag when reporting applicable short sale orders to CAT for at least one year.