Regulatory Notice 13-19
SEC Approves Amendments to Require Firms to Report OTC Transactions in Equity Securities as Soon as Practicable, But No Later Than 10 Seconds, Following Execution
Effective Monday, November 4, 2013, firms are required to report over-thecounter transactions in equity securities to FINRA as soon as practicable, but no later than 10 seconds, following execution. With respect to trades that are reported manually, FINRA will take into consideration the complexity and manual nature of the execution and reporting of the trade when reviewing for firm compliance with the new reporting time frame. The amendments also apply to trade cancellations, as well as stop stock and prior reference price trades.
Questions regarding this Notice may be directed to:
- Market Regulation, Legal Section, at (240) 386-5126;
- FINRA Operations at (866) 776-0800; or
- Office of General Counsel at (202) 728-8071.