III. FINRA CAT, LLC

Delegation of Functions and Authority:

A. Subject to Section I.B.9., FINRA hereby delegates to FINRA CAT and FINRA CAT assumes the following responsibilities and functions as a registered securities association:

1. To act as a Plan Processor in accordance with Rule 613 of SEC Regulation NMS and the provisions of the CAT NMS Plan.

2. To create, operate and maintain the consolidated audit trail ("CAT") and central repository pursuant to Rule 613 of SEC Regulation NMS and the provisions of the CAT NMS Plan.

3. To develop and implement policies, procedures, and control structures related to the CAT System.

4. To ensure the effective management and operation of the CAT.

5. To ensure the accuracy of the consolidation of the CAT Data reported to the Central Repository.

B. The responsibilities and functions delegated by FINRA to FINRA CAT include, but are not limited to, those specified in Section A. All action taken pursuant to authority delegated pursuant to Section A shall be taken in accordance with the terms of the CAT NMS Plan and Rule 613 of SEC Regulation NMS, and in consultation with the CAT NMS Plan Operating Committee, as applicable.

C. Capitalized terms used herein, but not otherwise defined, shall have the meanings ascribed to them in the CAT NMS Plan.

Amended by SR-FINRA-2019-018 eff. June 27, 2019.
Adopted by SR-FINRA-2019-015 eff. Apr. 24, 2019.