Regulatory Notice 14-52

FINRA Requests Comment on a Proposed Rule Requiring Confirmation Disclosure of Pricing Information in Fixed Income Securities Transactions

Comment Period Expires: January 20, 2015
FINRA is requesting comment on a proposed FINRA rule that would require firms to disclose additional information on customer confirmations for transactions in fixed income securities. Specifically, FINRA is proposing that, for same-day, retail-size principal transactions, firms disclose on the customer confirmation the price to the customer, the price to the member of a transaction in the same security, and the differential between those two prices. FINRA and the Municipal Securities Rulemaking Board (MSRB) have discussed a coordinated approach to potential rulemaking in this area. The MSRB also is publishing a notice soliciting comment on a similar proposal. The text of the proposed rules can be found in Attachment A. Questions concerning this Notice should be directed to:
  • Patrick Geraghty, Vice President, Market Regulation, at (240) 386-4973;
  • Cynthia Friedlander, Director, Fixed Income Regulation, Regulatory Operations at (202) 728-8133; or
  • Andrew Madar, Associate General Counsel, Office of General Counsel (OGC), at (202) 728-8056.
The views, expressions, findings and opinions expressed in the comments on this Web page are solely those of the author(s) and FINRA accepts no responsibility for the content of the comments: 
DateCommenterFormat - Size
12/5/2014Cutter Advisors GroupPDF - 44.81 KB
Mutual Trust Co. Of America SecuritiesPDF - 42.62 KB
Fintegra, LLC.PDF - 39.34 KB
Robert A. Eder Sr.PDF - 39.35 KB
1/7/2015DelphX LLCPDF - 356.91 KB
1/9/2015Diamant Investments CorporationPDF - 639.82 KB
1/13/2015Institutional Securities CorporationPDF - 117.95 KB
1/16/2015Coastal SecuritiesPDF - 72.09 KB
1/20/2015Bond Dealers of AmericaPDF - 155.59 KB
1/16/2015Thomson ReutersPDF - 5.42 MB
1/19/2015Wachtel & Co Inc.PDF - 74.71 KB
1/20/2015Hilliard LyonsPDF - 124.38 KB
1/20/2015SIFMAPDF - 399.37 KB
1/19/2015PIABAPDF - 618.86 KB
1/20/2015SECPDF - 120.03 KB
1/20/2015Sutter Securities Inc.PDF - 518.22 KB
1/20/2015CFAPDF - 334.04 KB
1/20/2015Hutchinson, Shockey, Erley & Co.PDF - 49.32 KB
1/20/2015Brean Capital, LLC PDF - 95.22 KB
1/20/2015Financial Services RoundtablePDF - 79.35 KB
1/20/2015Financial Services Institute Comments on Regulatory Notice 14-52PDF - 154.45 KB
1/20/2015Umpqua Investments, Inc. PDF - 149.77 KB
1/20/2015Fidelity InvestmentsPDF - 138.64 KB
1/20/2015Wells Fargo Advisors, LLCPDF - 126.33 KB
1/20/2015Morgan Stanley Smith Barney LLC PDF - 281.23 KB
1/20/2015Interactive DataPDF - 342.78 KB
1/20/2015Romano Brothers & Co. Wealth ManagementPDF - 246.42 KB
1/20/2015Financial Information Forum PDF - 250.48 KB
1/21/2015RW Smith & Associates, LLC PDF - 33.35 KB
1/24/2015Karin TexPDF - 6.57 MB
2/5/2015Hilliard LyonsPDF - 119.52 KB
4/1/2015Roberto Antonio EderPDF - 46.64 KB
8/4/2015Capital Investment CompaniesPDF - 162.12 KB