FINRA's Frequently Asked Questions on Electronic Blue Sheet Submissions Updated Regarding Order Execution Time

The Financial Industry Regulatory Authority issued frequently asked questions (FAQs) in connection with FINRA firms being required to submit new data elements for Electronic Blue Sheets (EBS) to correspond with the implementation of Rule 13h-1 under the Securities and Exchange Act of 1934 (SEC Large Trader Reporting Rule). FINRA updated the FAQs to, among other things, clarify that although under the SEC Large Trader Reporting Rule order execution time is required only for NMS securities, firms will be required to populate the Order Execution Time field for non-NMS securities (i.e., fixed income, options and other non-NMS securities) by May 1, 2013.

Click here to read the FAQs.

 

Topics:  Electronic Blue Sheets, FINRA, Reporting Requirements, Securities Exchange Act

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.

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