Proposed Rule Change to Amend Trade Reporting Structure and Require Submission of Non-Tape Reports to Identify Other Members for Agency and Riskless Principal Transactions

Financial Industry Regulatory Authority, Inc. ("FINRA") (f/k/a National Association of Securities Dealers, Inc. ("NASD")) is filing with the Securities and Exchange Commission ("SEC" or "Commission") a proposed rule change to amend its trade reporting rules applicable to over-the-counter (OTC) equity transactions to: (1) replace the current market maker-based trade reporting framework with an "executing party" framework; and (2) require that any member with the trade reporting obligation under FINRA rules that is acting in a riskless principal or agency capacity on behalf of one or more other members submit non-tape report(s) to FINRA, as necessary, to identify such other member(s) as a party to the trade.

TitleFormat - SizeStatus
Text of Proposed Rule ChangePDF - 187.67 KB
Extension No. 5PDF - 19.4 KB
Approval OrderPDF - 68.11 KB
Approval Order (Correction)PDF - 55.51 KB
Federal Register NoticePDF - 84.56 KB
Extension No. 1PDF - 19.33 KB
Extension No. 2PDF - 19.63 KB
Response to CommentsPDF - 455.38 KB
Extension No. 3PDF - 23.68 KB
Amendment No. 1 to Proposed Rule ChangePDF - 122.27 KB
Extension No. 4PDF - 19.4 KB
Amendment No. 2 to Proposed Rule ChangePDF - 29.81 KB