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FINRA Proposes Expansion of TRACE Reporting Exemptions for Trades on an ATS

FINRA filed a proposal with the SEC to amend the exemption from trade reporting obligations for certain transactions on an Alternative Trading System ("ATS") where the current rules result in duplicative reporting.

The proposal would expand 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 ("Transaction Reporting").

Comments on the proposal must be submitted within 21 days of its publication in the Federal Register.

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