The Board of Governors of the Financial Industry Regulatory Authority approved a proposal requiring member firms to disclose to retail customers on their confirmation statements the amount of mark-ups or mark-downs for most transactions in corporate and agency debt securities. The proposal would require a firm that sells or buys a relevant fixed-income security for a retail customer that on the same day buys or sells the same security as principal from another party to disclose to the customer on its confirmation statement the amount of the firm’s mark-up or mark-down from the prevailing market price for the security. The confirmation must also include a reference (and hyperlink if the confirmation is electronic) to trade-price data for the same security from FINRA’s Trade Reporting and Compliance Engine, more commonly known as TRACE.