FINRA Proposes Further Extension of Pilot Program on "Clearly Erroneous Transactions"

FINRA proposed extending a pilot program that governs the review of "clearly erroneous transactions" in exchange-listed securities. As previously covered, the pilot program conducted pursuant to FINRA Rule 11892 is intended to "promote transparency and uniformity" and "help assure consistent results in handling erroneous trades across the U.S. equities markets."

FINRA proposed extending the pilot program from October 20, 2020 until April 20, 2021. Comments on the extension must be submitted 21 days after its publication in the Federal Register.

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