FINRA and ISG Extend Effective Date for Certain Electronic Blue Sheet Data Elements


The Securities and Exchange Commission recently extended the compliance date for the broker-dealer recordkeeping, reporting and monitoring requirements of the Large Trader Reporting Rule from May 1, 2013 to November 1, 2013. To align with this new compliance date, the Financial Industry Regulatory Authority and other US members of the Intermarket Surveillance Group (ISG Members) have extended the effective date to submit certain new data elements for Electronic Blue Sheets (EBS) that were previously identified in Regulatory Notice 12-47. Specifically, broker dealers must be in EBS reporting compliance for the Order Execution Time, Large Trader Identification Numbers 1 through 3 and Large Trader Identification Qualifier fields by November 1, 2013. With respect to EBS requests from FINRA and other ISG Members, the data elements identified in Regulatory Notice 12-47 are unchanged and must be populated by November 1, 2013. In addition, minor modifications have been made to the EBS record layout from the version published in Regulatory Notice 12-47.

Click here for the FINRA notice.


Topics:  Effective Filing Date, Electronic Blue Sheets, Extensions, FINRA, SEC

Published In: Finance & Banking Updates, Securities Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Katten Muchin Rosenman LLP | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »