Regulatory Notice 14-21
SEC Approves Amendments to Equity Trade Reporting and OATS Rules
Effective Dates: OATS: April 7, 2014; ORF: September 15, 2014; ADF and TRFs: (millisecond reporting): September 29, 2014; ADF and TRFs (remaining amendments): First Quarter 2015
The Securities and Exchange Commission (SEC) has approved amendments to FINRA rules governing the reporting of (i) over-the-counter (OTC) transactions in equity securities to the FINRA facilities; and (ii) orders in NMS stocks and OTC equity securities to the Order Audit Trail System (OATS). The OATS amendments were implemented April 7, 2014, and the ORF amendments will be implemented September 15, 2014. The implementation date for the requirement relating to reporting in milliseconds to the ADF and TRFs is September 29, 2014. The implementation date for the remainder of the ADF and TRF amendments will be announced separately and will be during the first quarter of 2015.
The amended rule text is available in the online FINRA Manual.
Questions regarding this Notice may be directed to:
The effective date for ADF and TRFs (remaining amendments) has been extended to April 20, 2015. Original effective date: First Quarter 2015.
The effective date for ADF and TRFs (millisecond reporting) has been extended to November 10, 2014. Original effective date: September 29, 2014.
The effective date for ORF has been extended to November 17, 2014. Original effective date: September 15, 2014.
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