Pursuant to the Regulation NMS Plan to Address Extraordinary Market Volatility (Plan) (see Section VI(A)(1)), transactions that both (1) do not update the last sale price (except if solely because the transaction was reported late) and (2) are excepted or exempt from the SEC's trade-through rule (Reg NMS Rule 611) can be executed outside the price bands. To qualify, a trade must satisfy both prongs of the exclusion.
FINRA’s Board of Governors held its fifth and final meeting of the year on December 6-7. During the meeting, the Board approved two rule proposals and FINRA’s 2024 proposed budget , and continued discussions around FINRA’s financials, including expenses and the drawdown of reserves. The Board also appointed new members to the National Adjudicatory Council (NAC) and the Small Firm Advisory Committee (SFAC), and previewed the 2024 FINRA Annual Regulatory Oversight Report.
SR-FINRA-2008-005 - Proposed Rule Change to Establish Minimum Quarterly Threshold for Securities Transaction Credit Under NASD Rule 7001C
NASD, through its wholly owned subsidiary, NASD Dispute Resolution, Inc. ("NASD Dispute Resolution"), is filing with the Securities and Exchange Commission ("SEC" or "Commission") a proposed rule change to remove unnecessary cross references and correct a grammatical error in Rule 10308(a)(5)(B).
The Technology Management topic of the 2025 FINRA Annual Regulatory Oversight Report (the Report) informs member firms’ compliance programs by providing annual insights from FINRA’s ongoing regulatory operations, including (1) regulatory obligations, (2) findings and effective practices, and (3) additional resources.
Proposed Rule Change to Modify the “Late Report—T+N” Fee Applicable to Members Using the FINRA/Nasdaq Trade Reporting Facility
Proposed Rule Change to Amend FINRA Rule 7620A Relating to Fees Applicable to the FINRA/Nasdaq Trade Reporting Facilities
The staff granted an exemption from FINRA Rule 5131(b) with respect to purchases of “new issues” by the National Railroad Retirement Investment Trust.
FINRA Requests Comment on Proposed New Rule Governing Outside Business Activities and Private Securities Transactions
Proposed Rule Change to Modify FINRA/Nasdaq Trade Reporting Securities Transaction Credit
