SEC Extends Consideration of FINRA Amendments to TRACE Reporting Rules on Treasury Securities

The SEC extended the period for consideration of a FINRA proposal to modify the timing of Trade Reporting and Compliance Engine ("TRACE") reporting requirements for transactions in Treasury Securities. The SEC set September 1, 2022 as the new deadline for a decision.

As previously covered, the FINRA-proposed amendments would require member firms to report the time of Treasury transactions to TRACE in the finest increment of time captured by the reporting firm. Additionally, the proposed changes would establish a time period by which transactions must be reported to TRACE.