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Self-Regulatory Organizations; NYSE American LLC; Notice of Filing and Immediate Effectiveness of Proposed Change To Amend the NYSE American Equities Price List and the NYSE American Options Fee Schedule 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 NYSE American has announced a change that affects industry members by introducing new fees related to the historical costs of the National Market System Plan. This includes a specific insurance cost of $880,419 incurred for the Consolidated Audit Trail (CAT) during a previous period. Starting in 2020, CAT LLC evaluated various insurance options, ultimately deciding to purchase cyber security liability insurance and directors' insurance after comparing coverage and costs. Agents should be aware of these changes and consider how they may impact their clients' fees and insurance options.
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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'