FINRA Proposes Limited Trade Reporting Exemptions for ATSs

FINRA filed a proposed rule change with the SEC to adopt FINRA Rule 6732 ("Exemption from Trade Reporting Obligation for Certain Transactions on an Alternative Trading System"). The purpose of the change is to provide FINRA with the authority to exempt certain transactions by a member alternative trading system that meet specific criteria from the transaction-reporting obligations that would apply otherwise under FINRA Rule 6730 ("Transaction Reporting"). Additionally, FINRA proposed a related change to FINRA Rule 9610 to specify FINRA's exemptive authority.