[US SEC Reduces CAT System Operating Expenses] According to a report by Golden Finance, the U.S. Securities and Exchange Commission (SEC) announced conditional exemptions for CAT participating entities to reduce the costs of the Consolidated Audit Trail (CAT) system. Measures include lowering data processing and storage requirements, with expenses expected to decrease by an additional $20 million to $27 million from the 2025 baseline of $196 million. SEC Chairman Paul S. Atkins stated that this move marks the beginning of CAT reforms and cost control efforts.