SEC to Reduce Audit Trail Funding Costs After Citadel Court Win

The US Securities and Exchange Commission moved to reduce the operating costs of the agency’s controversial market-tracking database, after Citadel Securities and a financial-industry trade group won a suit challenging its funding amid a long-standing fight over the tool.

The so-called Consolidated Audit Trail “must be more efficient and cost-effective, especially after the recent decision,” SEC Chairman Paul Atkins said Tuesday in a statement.