FINRA Announces New Electronic Process for Submission of Notice and Information Relating to Distributions Subject to SEC Regulation

FINRA Reg. Notice 12-19

FINRA is reminding firms of their notification obligations under FINRA Rules 5190 and 6275(f), and FINRA trade reporting rules relating to distributions that are subject to SEC Regulation M. In addition, FINRA is announcing a new process for the electronic submission of the notice and information required under the rules.

Beginning June 4, 2012, firms are required to make submissions under Rule 5190, Rule 6275(f) and applicable trade reporting rules in accordance with the new electronic submission process. Prior to the effective date, FINRA will provide access to the system for testing purposes.

Effective Date: June 4, 2012

Cross References: Regulatory Notice 08-74 (Rule 5190 notice requirements); Regulatory Notice 11-40 (Rule 6282, 6380, 6622 notice requirements); FINRA Rule 5190; FINRA Rule 6275(f); see also FINRA Rules 6282.01, 6380A.01, 6380B.01, 6622.02 (trade reporting exceptions for unregistered distributions); SEC Regulation M.

For more information about this document, you may contact one of the following Cadwalader attorneys: Steven Lofchie; Glen Barrentine.