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Proposed Rule Change Relating to the Retirement of FINRA’s Order Audit Trail System

Financial Industry Regulatory Authority, Inc. (“FINRA”) is filing with the Securities and Exchange Commission (“SEC” or “Commission”) a proposed rule change setting forth the basis for its determination that the accuracy and reliability of the Consolidated Audit Trail (“CAT”) meet the standards approved by the Commission in SR-FINRA-2020-024 for purposes of eliminating the Order Audit Trail System (“OATS”) rules in the FINRA Rule 7400 Series and FINRA Rule 4554 (Alternative Trading Systems — Recording and Reporting Requirements of Order and Execution Information for NMS Stocks) (collectively referred to herein as the “OATS Rules”). The proposed rule change also updates cross-references within FINRA rules to reflect the elimination of the OATS Rules.

Title Format - Size Status
Text of the Proposed Rule Change PDF - 489.35 KB
Notice of Filing and Immediate Effectiveness PDF - 457.47 KB