SEC Approves FINRA Proposal To Expand Certain TRACE Reporting Exemptions – Finance and Banking

United States: SEC Approves FINRA’s Proposal to Expand Certain TRACE Reporting Exemptions

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The SEC has approved FINRA’s proposal to expand the scope of current exemptions from transaction reporting requirements for transactions conducted on an alternative trading system (“ATS”) where current rules result in duplicate reporting. The approval was published in the Federal Register.

As previously noted, the proposal extends the exemptions provided by FINRA Rule 6732 (“Exemption from Trade Reporting Obligation for Certain Transactions on an Alternative Trading System”) from the transaction reporting requirements of FINRA Rule 6730 (“Trade Reporting”).

The SEC noted that the proposed rule change appears reasonably designed to (i) reduce reporting burdens on member ATSs and (ii) prevent any negative impact on post-trade transparency.

The content of this article is intended to provide a general guide on the subject. Specialist advice should be sought regarding your particular situation.

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