Andy Kim Questions Paul Atkins on Project 2025 and Consolidated Audit Trail

Consolidated Audit Trail (CAT) and Market Manipulation

• ⚠️ Foreign companies manipulating our market is identified as a national security threat, especially with the rise of AI.
• 🔍 The Consolidated Audit Trail (CAT) is described as the primary tool for tracking market manipulation, particularly concerning foreign entities.
• 💡 Paul Atkins, nominee for SEC Chair, states he needs to review the current status of the CAT program, acknowledging its significant costs and efforts by both the SEC and market participants.
• ❓ Atkins does not currently have a position on whether the CAT should be terminated, emphasizing the need for a thorough review of its efficiency and alignment with its original mission.

Project 2025 and CAT Program Termination

• 📌 Senator Andy Kim raises concerns about Atkins being listed as a special contributor to Project 2025, which explicitly calls for the termination of the CAT program.
• 🗣️ Atkins clarifies he participated in only a couple of calls and was not involved in drafting, reiterating his commitment to reviewing the CAT's current state, costs, and mission.
• 🎯 Kim stresses the importance of the CAT as a crucial tool for combating market manipulation and urges Atkins to prioritize its continuation if confirmed.

Staffing and Operations at FTA

• 🎤 Mr. Molinaro addresses concerns about adequately staffing the FTA amidst administration efforts to decrease staff.
• 🤝 He expresses a goal to show respect to career staff, assess the impact of decisions, and work with the team to deliver high results.
• transit infrastructure requires increased investment and prioritization of expertise from public servants to meet national needs.