MSRB to Propose New Amendments to Trade Reporting Rule

The MSRB voted to authorize further amendments to Rule G-14 ("Reports of Sales or Purchases").

The MSRB said it will not establish an effective date for amendments (in their current form) to the transaction reporting requirement approved by the SEC last year.  

Rule G-14 mandates real-time reporting of municipal securities transactions to ensure market transparency. The MSRB said it intends to file further amendments to Rule G-14 with the SEC, "which are expected, at a minimum, to establish less significant reductions to current reporting timeframes for manual trades." The MSRB noted that FINRA intends "to amend its own similar rule for trade reporting of Trade Reporting and Compliance Engine (TRACE)-eligible securities under FINRA Rule[s]."

The MSRB also withdrew its pre-trade concept release from January to allow stakeholders "adequate time and resources" to provide feedback on the proposed changes to Rule G-14.