We close the gap between compliance and the systems that report it.
ClearFinraCat helps broker-dealers, fintechs, and RegTech providers resolve FINRA CAT and CAIS errors, regulatory reporting gaps, and trading infrastructure issues — with someone who understands the rule and the code that has to satisfy it.
CAT and CAIS compliance sit at the intersection of two teams that rarely speak the same language.
Compliance owns the obligation. Engineering owns the systems. When an error hits the exception queue, most firms don't have someone who can trace it from the FINRA rule text back to the FIX tag or OMS field that caused it.
Years bridging capital markets technology and regulatory compliance — not one or the other.
From CAT and CAIS rule interpretation, to root-cause analysis, to the SQL and Python that fix the pipeline.
Consulting engagements built for focused, senior-level work — no layers, no junior hand-offs.
Where we plug in
Engagements are scoped around the specific reporting obligation, error pattern, or system that needs fixing — not a generic compliance retainer.
FINRA CAT & CAIS Reporting & Compliance
Implementation, ongoing reporting obligations, and interpretation of CAT and CAIS requirements as they apply to your specific order flow.
CAT & CAIS Error Analysis & Remediation
Root-cause investigation of recurring exceptions, from linkage errors to timestamp drift, down to the system generating them.
CAT & CAIS Health Checks
A structured review of your current CAT and CAIS reporting posture — where the gaps are before FINRA finds them.
CAIS Reporting
Customer and Account Information System reporting setup, validation, and ongoing accuracy review.
OATS Legacy Reporting & Migration
Cleanup and migration support for firms still untangling legacy OATS-era reporting processes.
FIX Protocol & Connectivity
FIX onboarding, session troubleshooting, and tag-level diagnosis when trade data isn't reporting the way it should.
OMS/EMS Platform Workflows
Workflow review across order and execution management platforms, with an eye on what feeds regulatory reporting downstream.
Trading & Back-Office Integration
Connecting front-office trading systems to back-office and reporting infrastructure without data falling through the cracks.
Trade Surveillance & Monitoring
Review and tuning of surveillance and monitoring controls to catch issues before they become reportable ones.
Regulatory Reporting Controls
Data quality frameworks and control design that hold up under audit, not just under a spot check.
Regulatory Operations Improvement
Process redesign for the operations teams living in the exception queue every day.
UAT, Audits & Investigations
Production-readiness testing, and direct support through regulatory audits, exams, and investigations.
Built by a practitioner, not a firm.
ClearFinraCat is built on 15+ years of experience in capital markets technology and regulatory compliance — spanning the compliance desk and the engineering side of trading systems.
Most compliance consultants can tell you what the rule requires. Most technical contractors can build what they're told to. ClearFinraCat does both: reading a CAT or CAIS error report and understanding exactly which FIX tag, OMS workflow, or back-office feed is behind it — then fixing it.
Along the way, that combination has produced internal tools and automation that measurably improve CAT and CAIS reconciliation, exception management, and reporting quality — not just recommendations, but working systems.
Three kinds of teams call us in
Broker-Dealers
Facing CAT and CAIS reporting challenges, recurring exceptions, or preparing for a FINRA exam and need someone who can go from the rule to the root cause.
Fintech Firms
Building or scaling trading products that need to get regulatory reporting and connectivity right without slowing down the roadmap.
RegTech Providers
Needing an implementation partner who understands both the regulatory requirement and the client's trading infrastructure.
A straightforward path from problem to resolution
Engagements are remote, senior-led, and scoped to what actually needs to happen — not a fixed retainer.
Health check & root-cause review
We review your current CAT and CAIS reporting, error patterns, and the systems feeding them to identify exactly where the gaps are.
Fix the process and the pipeline
We resolve the underlying issue — whether it's a FIX connectivity problem, an OMS workflow, or a reporting control gap.
Controls & ongoing advisory
We help put data quality controls and monitoring in place so the same error doesn't reappear next quarter.
Common questions about FINRA CAT & CAIS reporting
Short answers to the questions compliance and technology teams ask most — before they pick up the phone.
What is FINRA CAT reporting?
The Consolidated Audit Trail (CAT) is a regulatory reporting system created under SEC Rule 613. Broker-dealers must report the full lifecycle of every order in NMS stocks, listed options, and OTC equities — origination, routing, modification, cancellation, and execution — to FINRA CAT, generally by 8:00 a.m. ET the following trading day.
What is CAIS, and how does it relate to CAT?
CAIS — the Customer and Account Information System — is the customer-and-account side of CAT. Firms report customer identifying information and account data so regulators can link each CAT order event to the customer behind it. Errors in either system generate exceptions that must be investigated and repaired.
How quickly do CAT reporting errors have to be corrected?
CAT reporting errors must generally be repaired within three trading days — by 8:00 a.m. ET on T+3. Recurring or unrepaired errors accumulate on your firm's CAT Report Card and are a common focus area in FINRA exams.
What are the most common CAT reporting errors?
Order linkage errors, timestamp discrepancies, duplicate or malformed CAT-Order-IDs, unmatched interfirm routes, and firm identifier mismatches come up most often. In our experience the root cause usually sits upstream of the CAT submission itself — in OMS configuration, FIX tag mapping, or back-office feeds.
Which firms have CAT reporting obligations?
All FINRA member broker-dealers that receive or originate orders in NMS securities or OTC equities must report to CAT, regardless of size. Many smaller firms submit through a CAT reporting agent — but the regulatory responsibility for accuracy stays with the firm.
How does a ClearFinraCat engagement start?
Usually with a focused health check: we review your current CAT and CAIS reporting, error patterns, and the systems feeding them, then scope the remediation around what we find. Engagements are remote and senior-led — see how we work, or send a note with what you're seeing.