{"abstract":"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.","action":"Concept release; request for comments.","agencies":[{"raw_name":"SECURITIES AND EXCHANGE COMMISSION","name":"Securities and Exchange Commission","id":466,"url":"https://www.federalregister.gov/agencies/securities-and-exchange-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/466","parent_id":null,"slug":"securities-and-exchange-commission"}],"body_html_url":"https://www.federalregister.gov/documents/full_text/html/2026/04/20/2026-07651.html","cfr_references":[{"chapter":null,"citation_url":null,"part":"240","title":17},{"chapter":null,"citation_url":null,"part":"242","title":17}],"citation":"91 FR 20945","comment_url":null,"comments_close_on":"2026-06-22","correction_of":null,"corrections":[],"dates":"Comments should be received on or before June 22, 2026.","disposition_notes":null,"docket_ids":["Release No. 34-105251","File No. S7-2026-12"],"dockets":[],"document_number":"2026-07651","effective_on":null,"end_page":20968,"executive_order_notes":null,"executive_order_number":null,"explanation":null,"full_text_xml_url":"https://www.federalregister.gov/documents/full_text/xml/2026/04/20/2026-07651.xml","html_url":"https://www.federalregister.gov/documents/2026/04/20/2026-07651/concept-release-on-consolidated-audit-trail-and-other-audit-trails-and-data-sources","images":{},"images_metadata":{},"json_url":"https://www.federalregister.gov/api/v1/documents/2026-07651?publication_date=2026-04-20","mods_url":"https://www.govinfo.gov/metadata/granule/FR-2026-04-20/2026-07651/mods.xml","not_received_for_publication":null,"page_length":24,"page_views":{"count":9,"last_updated":"2026-04-18 10:15:05 -0400"},"pdf_url":"https://www.govinfo.gov/content/pkg/FR-2026-04-20/pdf/2026-07651.pdf","presidential_document_number":null,"proclamation_number":null,"public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2026-07651.pdf?1776429917","publication_date":"2026-04-20","raw_text_url":"https://www.federalregister.gov/documents/full_text/text/2026/04/20/2026-07651.txt","regulation_id_number_info":{"3235-AN54":{"issue":"202504","html_url":"https://www.federalregister.gov/regulations/3235-AN54/evaluating-the-continued-effectiveness-of-the-consolidated-audit-trail","title":"Evaluating the Continued Effectiveness of the Consolidated Audit Trail","xml_url":"http://www.reginfo.gov/public/do/eAgendaViewRule?pubId=202504&RIN=3235-AN54&operation=OPERATION_EXPORT_XML","priority_category":"Economically Significant"}},"regulation_id_numbers":["3235-AN54"],"regulations_dot_gov_info":{"checked_regulationsdotgov_at":"2026-04-18T06:42:41Z"},"regulations_dot_gov_url":null,"significant":true,"signing_date":null,"start_page":20945,"subtype":null,"title":"Concept Release on Consolidated Audit Trail and Other Audit Trails and Data Sources","toc_doc":"Concept Release on Consolidated Audit Trail and Other Audit Trails and Data Sources","toc_subject":null,"topics":[],"type":"Proposed Rule","volume":91}