FINRA Introduces New Clearing-Only, Non-Regulatory Reports (Reg. Notice 15-51)

FINRA introduced a new category of trade submissions that it called clearing-only, non-regulatory reports. The reports can be used by firms to submit to clearing OTC transactions in equity securities that have been reported previously through a FINRA facility. FINRA specified that clearing-only, non-regulatory reports cannot be used for regulatory reporting purposes, and that firms may use these reports only when their regulatory reporting obligations to FINRA have been satisfied through other submissions (tape reports - i.e., submitted for public dissemination purposes - or non-tape reports).