The SEC approved an amendment to MSRB Rule G-12 ("Uniform Practice") to require the completion of allocations, confirmations, and affirmations by the end of trade date for municipal securities transactions.
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The MSRB set a comment deadline of February 16, 2024 on a proposal to shorten the time allowed for post-trade reporting for Municipal Securities. The MSRB proposal was published in the Federal Register.
The MSRB proposed rule amendments to shorten the time allowed for post-trade reporting to within one minute; separately, FINRA proposed rule amendments to reduce the 15-minute TRACE reporting timeframe to one minute, with exceptions for de minimis reporting activity and for manual trades.
The MSRB established the 2024 criteria for designating participants for the next mandatory functional and performance testing of business continuity and disaster recovery plans.
The MSRB proposed a rule change "to promote the completion of allocations, confirmations, and affirmations by the end of trade date for transactions in municipal securities between brokers, dealers and municipal securities dealers and their institutional customers."