Proposed Delay in Expansion of FINRA Rule 5270 ("Front Running of Block Transactions")

FINRA filed with the SEC a proposed rule change to establish September 3, 2013, as the implementation date of FINRA Rule 5270 ("Front Running of Block Transactions") that the SEC approved on September 4, 2012. The proposed rule change adopted NASD Interpretive Material 2110-3 ("Front Running Policy") asFINRA Rule 5270 with certain changes, including broadening the rule's scope and providing further clarity into trading activity that FINRA believes is impermissible. [Subscriber links appear in the preceding sentence.]

See: Text of Proposed Rule Change.