Collection, Reconciliation, Validation, Reporting and Error Correction

The CAT Customer & Account Information System (CAIS) is a separate system for submission of customer and account data and is scheduled to go live in two phases.

Phase 1 – April 2021 – CAT reporter firm must report account and LTID data associated with an FDID

Phase 2 – July 2022 – CAT reporter firms must report full customer and account data.

CAIS will challenge firms by requiring that they report:

Phase 1

  • FDIDs and their associated LTIDs/ULTIDs.
  • Audit trail information of when those associations were implemented.
  • Audit trail information as to when LTIDS and FDID change their associations or cease to exist. Events that can change associations could be account closures, Large Trader status change, or broker dealer mergers that cause client accounts structures to be combined.
  • Meta data that describes the type of FDID being reported on.
  • Entity relationships FDIDs and their associated LTIDS.

Phase 2

  • Translation of tax identifiers to a CAIS TID value to be reported to the CCID subsystem.
  • CCID report must be paired and linked to the CAIS report of account meta data via a unique one-time customer RecordID.
  • Reporting of Use of the TID value on CAT event reports.
  • 150+ account master, LTID and meta data fields (pending finalization of the draft specification).
  • Audit trail data created by firm maintenance workflows that affect reported data.

Functionality Overview

  • Be better prepared for CAIS Phase 1 and 2 by leveraging our existing reconciliation, validation and reporting framework.
  • We can apply the transformed tax identifier (TID) algorithm to your SSN, EIN and ITIN for TID reporting to the FINRA CCID subsystem.
  • A single platform to view your CAIS reports, underlying source data, related firm and client reporting and corresponding books and records.
  • Customizable complex rule sets to validate and accurately reconcile your paired CAIS file submissions against your account master data sources so that you are certain that no data gaps are occurring in your regulatory submissions.
  • Scalable architecture proven in production at some of the world’s largest financial institutions.
  • Web-based GUI with easy-to-use dashboards which allow users to quickly and efficiently identify, monitor, and manage errors which may impact their reports.
  • Can be run on-site or as a fully hosted cloud-based solution, allowing for quick time to market.

This n-Tier offering provides a uniquely flexible solution with extensive functionality which is part of our existing regulatory platform that has been used by some of the largest financial institutions for years.

To learn more about our Consolidated Audit Trail (CAT) solution, click here.