New FINRA Rule Requires Filing of Order Routing Reports

FINRA adopted a new rule to require that broker-dealers file their order routing reports with FINRA to facilitate public dissemination of the information.

In its Notice, FINRA said it adopted Rule 6151 ("Disclosure of Order Routing Information for NMS Securities") to require members to submit to FINRA the required NMS Rule 606(a) ("Disclosure: Quarterly Report on Order Routing") reports. FINRA will publish the reports on the FINRA website (see related coverage).

These amendments will take effect on June 30, 2024. FINRA said that members will be required to submit their Q2 2024 Rule 606(a) Reports to FINRA no later than July 31, 2024.