FINRA Proposes Rule to Change "Reporting Member" Definition

FINRA filed with the SEC a proposed rule change to amend FINRA Rule 7410 to permit members to route orders to two Reporting Members for a defined time period, provided that certain conditions are met, without losing the exception from the definition of "Reporting Member" in the Order Audit Trail System rules. Specifically, the proposed rules allow for routes to be ordered to one or two Reporting Member(s) for no more than a single year.

See: Text of Proposed Rule Change.To stay current on all SRO rule changes, please see the Cabinet's Regulatory Calendars(accessible to Cabinet subscribers only).