6520. Participation in SLATE
(a) Mandatory Participation
(1) Pursuant to SEA Rule 10c-1a, participation in SLATE is mandatory for purposes of reporting Covered Securities Loans. Such mandatory participation obligates a Covered Person to submit Covered Securities Loan information to SLATE in conformity with SEA Rule 10c-1a and the FINRA Rule 6500 Series.
(2) Participation in SLATE shall be conditioned upon the SLATE Participant’s initial and continuing compliance with the following requirements:
(A) Obtaining a Market Participant Identifier (“MPID”) for reporting Covered Securities Loans to SLATE;
(B) Execution of, and continuing compliance with, a SLATE Participant application agreement and all applicable rules and operating procedures of FINRA and the SEC; and
(C) Maintenance of the physical security of the equipment located on the premises of the SLATE Participant to prevent unauthorized entry of information into SLATE.
(3) Each SLATE Participant shall be obligated to inform FINRA of non-compliance with, or changes to, any of the participation requirements set forth in paragraph (a)(2) of this Rule.
(b) Reporting Agents
A SLATE Participant acting as a Reporting Agent shall provide FINRA with a list naming each Covered Person on whose behalf the Reporting Agent is providing information to SLATE and shall provide FINRA with any updates to the list of such persons by the end of the day on which any such change occurs, in the form and manner specified by FINRA.
(c) SLATE Participant Obligations
Upon execution and receipt by FINRA of the SLATE Participant application agreement, a SLATE Participant may commence input of Covered Securities Loan reports. A SLATE Participant must report a Covered Securities Loan using its MPID. SLATE Participants may access the service via a FINRA-approved facility during SLATE System Hours.
| Adopted by SR-FINRA-2024-007 eff. Sept. 28, 2026. |