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Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the NYSE Price List To Establish Fees for Industry Members Related to Certain Historical Costs of the National Market System Plan Governing the Consolidated Audit Trail
Plain English Summary
The New York Stock Exchange (NYSE) has made changes to its fee structure that will affect industry members. They are now required to pay fees related to the historical costs of insurance for the Consolidated Audit Trail (CAT). This includes a total of $880,419 for insurance costs incurred during a specific period. Starting in 2020, CAT LLC evaluated different insurance options and decided to purchase cyber security liability insurance and directors' insurance based on their analysis of coverage and costs. Agents should be aware of these changes and prepare for the new fee requirements.
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(VIII) <span class="match">Insurance</span>
The <span class="match">insurance</span> costs of $880,419 represent the cost incurred for <span class="match">insurance</span> for CAT during the Pre-FAM Period. Commencing in 2020, CAT LLC performed an evaluation of various potential alternatives for CAT <span class="match">insurance</span> policies, which included engaging in discussions with different <span class="match">insurance</span> companies and conducting cost comparisons of various alternative approaches to <span class="match">insurance</span>. Based on an analysis of a variety of factors, including coverage and premiums, CAT LLC determined to purchase cyber security liability <span class="match">insurance</span>, directors'