In comments in response to FINRA's and MSRB's proposal to shorten the time allowed for post-trade reporting in debt securities, SIFMA recommended that FINRA and MSRB reconsider if a one-minute trade reporting requirement is appropriate for fixed income markets.
News & Insights
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.
In its quarterly Board of Directors meeting, the MSRB voted to approve rule amendments to shorten the time allowed for post-trade reporting.
A broker-dealer settled FINRA charges for (i) conducting a municipal securities business without becoming a member of the MSRB and (ii) failing to amend its FINRA membership application prior to conducting private placement offerings.