On January 10, 2023, the Financial Industry Regulatory Authority, Inc. (“FINRA”) published the 2023 Report on its Examination and Risk Monitoring Program (the “Report”). FINRA highlights several topics as key areas of risk for investors and the markets, including mobile apps, complex products and options, order handling/best execution, Regulation Best Interest and Form CRS, and
FINRA
FINRA and MSRB Propose Shortening Trade Reporting Timeframes for Certain Fixed Income Securities Transactions
By Steffen Hemmerich, Anna T. Pinedo & Stephen Vogt on
Proposed Changes Would Require Reporting within One Minute of Execution
On August 2, 2022, FINRA proposed to amend FINRA Rule 6730(a)(1) to reduce the Trade Reporting and Compliance Engine (“TRACE”) reporting timeframe for transactions in “TRACE-Eligible Securities” currently subject to a 15-minute outer limit reporting timeframe to one minute. The one-minute outer limit reporting timeframe…