Regulatory Notice 10-43

Amendments to FINRA Rules on Trading Pauses Due to Extraordinary Market Volatility and Clearly Erroneous Transactions in Exchange-Listed Securities

Effective Date: Amendments to Rule 11892 Became Effective September 10, 2010; Amendment to Rule 6121 Became Effective September 14, 2010

On September 14, 2010, FINRA’s individual stock trading-pause (also called a single-stock circuit breaker) pilot was expanded to include securities in the Russell 1000® Index as well as a pilot list of exchange traded products (ETPs).

On September 10, 2010, amendments to FINRA’s clearly erroneous rules that refine and clarify the process for making clearly erroneous determinations for over-the-counter (OTC) transactions in exchange-listed securities, including events involving multiple stocks, became effective on a pilot basis. Both pilots are set to end on December 10, 2010.

The text of the amendments can be found in the FINRA Manual at

Questions regarding this Notice should be directed to:

  • FINRA Operations at (866) 776-0800; or
  • Racquel Russell, Assistant General Counsel, Office of General Counsel, at (202) 728-8363.