Concept Release on Consolidated Audit Trail and Other Audit Trails and Data Sources

Document 2026-07651 is a Proposed Rule published by the Securities and Exchange Commission in the Federal Register on April 20, 2026. The Securities and Exchange Commission (the "Commission") is publishing this concept release to solicit comments in support of a comprehensive review of the Consolidated Audit Trail and other audit trails and related data sources currently used in the regulation of U.S. securities markets, including comments regarding the funding mechanisms for these audit trails and/or related data sources. There have been several developments since the Commission last evaluated the scope and sufficiency of these audit trails and related data sources. These developments have prompted the Commission to consider whether changes should be made to the rules and regulations governing existing audit trails and related data sources to better respond to and reflect current market conditions; demonstrated regulatory needs; civil liberty, privacy, and confidentiality concerns; cost-efficient technology solutions; and cybersecurity considerations. View the original at https://www.federalregister.gov/documents/2026/04/20/2026-07651/concept-release-on-consolidated-audit-trail-and-other-audit-trails-and-data-sources.

No. Document 2026-07651 is not classified as economically significant under Executive Order 12866. Economically significant rules require OIRA review and are estimated to have impacts of $100 million or more per year.