SIFMA criticized FINRA's proposal to require daily trade reporting for OTC options transactions, saying that it lacked regulatory clarity as to its scope and would leave broker-dealers ill-equipped to timely implement any changes necessary for compliance.
The SEC opened a new comment period to consider objections to proposed revisions to the funding model for the consolidated audit trail.
The SEC approved a FINRA proposal to shorten the Trade Reporting and Compliance Engine reporting period requirements for transactions in U.S. Treasury Securities.
In a joint comment letter responding to an RFI on a proposal to increase public transparency in the Treasury securities market, SIFMA, SIFMA AMG, the Institute of International Bankers and the ABA Securities Association raised "core considerations" necessary before implementing any new rules.
A broker-dealer settled FINRA charges for (i) accepting short sale orders without first fulfilling the locate requirement, (ii) reporting trades with an inaccurate capacity symbol and (iii) related supervisory failures.