BROKER-DEALER -

FINRA Issues Notice Regarding SEC’s Approval of New NMS Stock Recording and Reporting Requirements Rule -

On August 8, the Financial Industry Regulatory Authority issued Regulatory Notice 16-28, which discusses the Securities and Exchange Commission’s approval of new FINRA Rule 4554 (Alternative Trading Systems – Recording and Reporting Requirements of Order and Execution Information for NMS Stocks). Once adopted, Rule 4554 would require alternative trading systems (ATSs) to report additional ATS-specific data elements in their Order Audit Trail System (OATS) reports for orders in National Market System (NMS) securities.