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FINRA to Publish Aggregated U.S. Treasury Securities Data

February 12, 2020
Volume 6


Upcoming Deadlines and Effective Dates
  • FINRA Requests for Comment

Education and Compliance Programs

Reminder: senior investor rule review survey responses due February 21. In Regulatory Notice 19-27, FINRA announced it was conducting a retrospective review of its rules and administrative processes that help protect senior investors from financial exploitation. In addition to the feedback received during the comment process, FINRA sent a voluntary survey via email to firms about their experiences with these rules. Survey responses are due by February 21. Questions about the survey can be sent to [email protected].

FINRA reminds CAT registered firms to sign the CAT Reporter Agreement and to establish necessary reporting relationships. FINRA reminds its CAT registered members that it is necessary to electronically sign the CAT Reporter Agreement. In addition, reporting relationships are required to authorize a Reporting Agent (e.g., clearing firm or vendor) to report on behalf of a CAT Reporter and to authorize a Third-Party Reporting Agent to view data submitted on behalf of a CAT Reporter by another Submitter. CAT Reporting Relationships must be entered using the CAT Reporter Portal, and instructions for how to establish them can be found in the FINRA CAT Onboarding Guide.

PLUS – FINRA just released a Small Firm CAT Onboarding Checklist to assist small firms with the onboarding process, deadlines and additional resources. It also includes information on CAT connectivity options, the CAT Reporter Portal, and CAT file transfers.

A PDF version of the CAT Reporter Agreement, as well as the FINRA CAT Onboarding guide, are available on the CAT NMS website. All questions regarding CAT registration and onboarding should be directed to the FINRA CAT Helpdesk at (888) 696-3348 or [email protected].

FINRA to publish aggregated data for U.S. Treasury Securities. Starting Tuesday, March 10, FINRA will begin publishing on its website weekly aggregated transaction information and statistics on U.S. Treasury Securities. The Treasury Aggregate Statistics will illustrate trading volume in U.S. Treasury Securities reported to TRACE for the prior week. For details see FINRA’s TRACE page.

Gain insight into key priorities at FINRA’s Annual Conference, which takes place May 12–14 in Washington, DC. Join us for informative sessions, demos of FINRA systems and compliance tools, and opportunities to meet one-on-one with FINRA staff. PLUS – networking opportunities, conference exhibitors and more. Register today to receive reduced conference registration rates!

 Upcoming Deadlines and Effective Dates

FINRA Requests for Comment

FINRA is conducting a retrospective review of Rule 4530 (Reporting Requirements) to assess its effectiveness and efficiency. Regulatory Notice 20-02 outlines the general retrospective rule review process and seeks responses to several questions related to firms’ experiences with this specific rule. The comment period expires March 9, 2020.

FINRA’s Capital Acquisition Broker (CAB) rules provide a simplified rulebook for broker-dealers that engage only in limited capital advisory, corporate restructuring and private placement activities. FINRA is requesting comment on proposed amendments to the CAB rules, as described in Regulatory Notice 20-04, to make them more useful to CABs without reducing investor protection. The comment period expires March 30, 2020.

New Rate for Fees Paid Under Section 31 of the Exchange Act

Effective February 18, 2020, the Section 31 fee rate applicable to specified securities transactions on the exchanges and in the over-the-counter markets will increase from its current rate of $20.70 per million dollars in transactions to a new rate of $22.10 per million dollars in transactions. See Information Notice 2/3/20 for additional information.

Covered Agency Transactions

Members are reminded that the implementation date of the margin requirements for Covered Agency Transactions pursuant to SR-FINRA-2015-036 has been extended to March 25, 2021. See the Federal Register notice, available on the FINRA website, for more information.

 Education and Compliance Programs

Register today for the West Region Member Forum on March 26, 2020 in San Francisco, CA. This one-day event, which feature sessions on key topics like the SEC's Regulation Best Interest, is designed to provide financial professionals in the region the opportunity to engage in discussions with FINRA staff and connect with industry leaders and peers.

Save the Date for these upcoming FINRA events:

  • FINRA Institute at Georgetown Certified Regulatory and Compliance Professional® Program – Week I | July 19–24, 2020 | Washington, DC
  • Small Firm Conference | November 11–12, 2020 | Santa Monica, CA
  • FINRA Institute at Georgetown Certified Regulatory and Compliance Professional® Program – Week II | November 15–20, 2020 | Washington, DC

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