SEC Approves FINRA's TRACE-Eligible Securities Reporting Rule Change

The SEC approved a rule change requiring FINRA members to report transactions in TRACE-eligible securities that are subject to dissemination "as soon as practicable" pursuant to FINRA Rule 6730. The SEC order approving the rule change was published in the Federal Register.

The proposed rule change specifies that members are expected to report transactions in TRACE-Eligible Securities that are subject to dissemination "as soon as practicable," but no later than 15 minutes following the time of execution. FINRA stated that it will announce the effective date of the proposed rule change in a Regulatory Notice, to be published no later than 60 days after the SEC's approval of the change on September 3, 2015.