At an SEC Fixed Income Market Structure Advisory Committee meeting, SEC Chair Jay Clayton and Commissioners Elad L. Roisman and Hester M. Peirce addressed issuers concerning rating agencies, bond pricing, trade transparency and internal fund crosses.
The SEC solicited comment on a FINRA proposed rule on "NextShares," relating to the reporting of over-the-counter transactions in exchange-traded managed fund shares that are listed on the Nasdaq exchange. The request for comment was published in the Federal Register.
FINRA proposed rule amendments to provide market participants with a daily final trade price for each over-the-counter transaction in exchange-traded managed fund shares as reported to the FINRA/Nasdaq Trade Reporting Facility.
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